Trustee and Scheme Management Training 2016
Introduction Trustees and the law
How can we help?
As the Pensions Regulator (tPR) states, ‘committed, conscientious trustees play an essential part in the proper running of pension schemes’. Trustees have wide-ranging powers and discretions under the Pensions Act 2004. The law requires that trustees have the knowledge and understanding to perform their role properly (as outlined in the scope documents for trustee knowledge and understanding developed by tPR). This includes understanding the law relating to pensions and trusts, the funding of pension schemes and the investment of scheme assets.
No-one has more experience of providing advice to trustees of all scheme sizes than Willis Towers Watson. We have provided training for trustees for many years and our latest courses are designed to support trustees’ needs, complementing tPR’s current e-learning programme. Our in-house training includes:
Introductory Trustee Training DC Training Contract-based DC Training Investment Management Trustee Training
Complying with the law
Further information
TPR has developed a web-based trustee toolkit that covers all of the scope documents and has been designed to help trustees comply with the minimum requirements. For some, this e-learning programme may be sufficient. Others, however, are likely to feel the need to supplement e-learning with further training, either on specific issues or relating to the particular circumstances of their scheme, and have the opportunity to share experiences with other trustees. As legislation and good practice are in constant flux, the trustee body – or subgroups of it – should seek regular briefings and refresher courses.
In addition to these courses, we run a range of seminars that are of interest to trustees and others interested in the management of pension schemes. For further information, please contact your Willis Towers Watson consultant, or
[email protected]
Bespoke courses As an alternative to the in-house courses, your Willis Towers Watson consultant can work with you to identify the training needs of the trustee body as a whole, groups of trustees, or individual trustees. We can then develop and deliver a course or training programme designed to meet these specific needs. Courses can be run at any location convenient for the trustees, including your offices or Willis Towers Watson’s offices. Training can also be included as a regular slot during normal trustee meetings.
What will I learn? These courses will be designed and delivered to meet your specific needs, and tailored to your scheme and circumstances. By drawing on a library of training materials, where possible, we are able to provide tailored courses quickly and within a realistic budget.
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Trustee and Scheme Management Training
The full range of topics are covered, including defined benefit (DB) scheme funding, investment, scheme operation, settlement and defined contribution (DC) scheme matters.
Who should attend? These courses can be designed and delivered to suit any level of experience or knowledge.
What do I do now? For further information, or to discuss your training needs in more detail, please contact your Willis Towers Watson consultant or
[email protected]
Introductory Trustee Training This one-day course is designed for those new to trusteeship and provides a participative environment in which trustees are able to explore the challenges they face with their peers and leading members of the Willis Towers Watson team.
This course includes: An introduction to trusteeship – covering the basics of:
What a trust is Duties, powers and responsibilities of trustees Managing conflicts of interest Scheme management An introduction to pensions – covering the basics of:
How a DB pension scheme works Funding DB pension schemes How a DC pension scheme works
Dates: London Wednesday 3 February 2016 Thursday 21 April 2016 Thursday 20 September 2016 Wednesday 2 November 2016 Manchester Thursday 3 March 2016
Time (all locations): 9.00am-4.00pm
Venues: London 71 High Holborn, London, WC1V 6TP Manchester Belvedere, 12 Booth Street, Manchester, M2 4AW Please check the latest dates and locations at www.willistowerswatson.com/trustee
Risks and choices faced by DC scheme members An introduction to investment matters – covering the basics of:
The trustee’s role in investments for DB and DC schemes
Types of assets Setting investment strategy Selecting fund managers
Course fees The cost of this full-day course is £300 + VAT (including breakfast and lunch).
Who should attend? This course is suitable for new trustees (or those new to working with trustees) seeking a basic overview and a solid grounding for subsequent bespoke training.
What do I do now? To book a place on one of the Introductory Trustee Training courses, please register online at www.willistowerswatson.com/trustee
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DC Training This one-day course is designed to give delegates a better understanding of the many issues they will face as a trustee, or scheme manager, of a DC scheme.
Course fees
In a highly participative environment, delegates will explore:
Who should attend?
The legal framework within which trustees operate. The key issues in effective DC administration. How to devise a DC investment strategy and monitor investment performance.
Communication and improving member understanding. The retirement process, member choices and building a member support framework.
The latest developments in DC governance. Selecting fund managers. Dates: London Thursday 16 June 2016 Tuesday 15 November 2016
Time: 9.00am-4.00pm
Venue: London 71 High Holborn, London, WC1V 6TP Please check the latest dates and locations at www.willistowerswatson.com/trustee
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Trustee and Scheme Management Training
The cost of this full-day course is £300 + VAT (including breakfast and lunch).
This course is aimed at trustees or managers of DC plans and finance/HR executives who have an interest in trust-based DC pensions.
What do I do now? To book a place on one of the DC Training courses, please register online at www.willistowerswatson.com/trustee
Contract-based DC Training This one-day introductory course is designed to provide delegates with a practical guide to running an effective contract-based DC pension arrangement.
Course fees
This course will cover a number of different areas, including:
Who should attend?
An overview of the current UK DC pensions landscape, highlighting issues, trends and emerging best practice.
The regulatory framework and the respective roles of the employer, provider and adviser.
DC governance – a practical guide to minimising risk and maximising value.
A discussion on DC investment strategies and a guide to monitoring investment performance.
Member engagement and communication – practical guidance on how to improve member awareness and understanding.
An overview of the retirement process and new post-retirement options.
Dates: London Thursday 25 February 2016 Wednesday 5 October 2016
Time: 9.00am-4.00pm
Venue: London 71 High Holborn, London, WC1V 6TP Please check the latest dates and locations at www.willistowerswatson.com/trustee
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The cost of this full-day course is £300 + VAT (including breakfast and lunch).
This course is aimed at members of contract-based DC governance committees and finance/HR executives who have an interest in contract-based DC pensions.
What do I do now? To book a place on one of the Contract-based DC Training courses, please register online at www.willistowerswatson.com/trustee
Investment Management Trustee Training For pension schemes This one-day course is designed to give delegates a deeper understanding of a range of investment issues that apply to both DB and DC pension schemes. In the morning session delegates will explore:
Trustee investment responsibilities and governance matters across UK pension funds, including the importance of applying investment beliefs in investment strategy.
Characteristics of mainstream and alternative asset classes for UK pension funds that currently feature in portfolios and board meetings of UK pension funds. In the afternoon we will explore the investment issues relating to DB and DC arrangements in separate breakout sessions if numbers allow. Delegates should indicate on application whether they are interested in attending breakout sessions relating to DB schemes, DC schemes or both and we will accommodate these preferences as far as is practical.
DB breakout
Use of asset liability modelling and risk budgeting techniques to make decisions about long-term strategy and risk management.
A high-level introduction to liability matching investment strategies and the objectives of such strategies.
DC breakout Approach to reviewing and designing default investment strategies in line with tPR’s quality features set out in the Code of Practice.
The impact of the new retirement flexibilities on member behaviour and the implications this has for investment solutions. Delegates will also enjoy the opportunity of meeting trustees from other pension schemes and discussing general topics in pension risk management with the presenters.
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Trustee and Scheme Management Training
Dates: London Thursday 2 June 2016 Thursday 13 October 2016 Leeds Wednesday 11 May 2016
Time (all locations): 9.00am-4.00pm
Venues: London 71 High Holborn, London, WC1V 6TP Leeds 1 Wellington Place, Wellington Street, Leeds, LS1 4AP Please check the latest dates and locations at www.willistowerswatson.com/trustee
Course fees The cost of this full-day course is £300 + VAT (including breakfast and lunch).
Who should attend? This course is aimed at trustees of DB or DC schemes who are looking to develop their knowledge of their scheme’s investment decisions.
What do I do now? To book a place on one of the Investment Management Trustee Training courses, please register online at www.willistowerswatson.com/trustee, and indicate whether you are interested in DB schemes, DC schemes or both.
About Willis Towers Watson Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 territories. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.
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