The mallowstreet Defined Contribution Indaba: Is DC fit for purpose?
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It was great to see so many community members at the mallowstreet Defined Contribution (DC) Indaba yesterday.
Jenny Paul from the Pensions Regulator kicked off the day and tackled a number of topics including value for money, climate change and decumulation. She also detailed how the Pensions Regulator is evolving its regulatory framework to adapt to this ever-changing environment.
Kim Nash from Zedra Governance picked up the conversation and raised a key point: members are at the heart of what we do. She shared her experiences of being a trustee of multiple master trusts. Kim discussed the risks facing members, and how trustees respond to these.
Our panel, Paul Enderby (Redington) Mark Guerbi (Mercer) Kirsty Moffat (Hymans Robertson) and Reena Tanna (Barnett Waddingham) fielded a number of questions, covering auto-enrolment contributions, what engagement really means for trustees and members, and what they would do if they were leading a major industry-wide pensions review. Overriding themes of simplicity and stability quickly emerged.
Interspersed with these sessions, we heard from four world class asset managers in the investment masterclass sessions:
- Ballie Gifford: Positive Change in Challenging Times
- Hamilton Lane: Private Markets: Evergreen Portfolio Construction
- Newton Investment Management: Investing for the Future in a Volatile World
- Schroders: Making Private Assets Accessible for Pension Schemes through LTAFs
Applying what everyone had learned at the investment masterclass sessions, Monica Ho from Lloyds Banking Group Pensions Trustees gave an overview of the DC investment design and discussed the opportunities and challenges facing the scheme.
Thank you so much to everyone who attended and contributed to the day – for your questions, your comments and insights.
For those who were there, what are your main takeaways? For those who couldn’t make it, what are the burning questions on your mind around the key challenges you are facing when it comes to DC, and where do you need help?
And as for the broader point we discussed throughout the day – is DC fit for purpose in the UK? What does our industry need to change? Let us know your view!
