Making a difference

Pensions Governance Workshop

The recent global financial turmoil has had a major impact on pension provision throughout the world. Demands posed by this market volatility as well as demographic change and regulatory development make pension scheme management more challenging. Modern governance practices provide the framework for those responsible for sound pensions provision to address these challenges.

This workshop will take participants through the roles, issues, tasks and processes involved in governing and administering pension schemes and ensuring that pension commitments are honoured.

Who should attend
Trustees, sponsors, administrators, regulators, tax administrators, providers of financial services, union officials, legal advisers and auditors from the public, private and NGO sectors.

How you will benefit
By the end of the course you will be able to:

• contribute to informed debate on policy, structure and operational control of pension schemes
• select and work with pension scheme advisers
• provide insight into the appropriate management and investment of pension funds
• identify controls and procedures to balance and protect interests of scheme members, sponsors and other stakeholders

Course profile

• Factors driving reform and the multi-pillar mode
• The latest recommendations of the OECD - how they have recently changed
• The move to DC and Hybrid schemes
• Stakeholders and their different roles
• The sponsor and sponsor risk
• The components of modern governance models - emerging standards
• Public and private sector governance issues
• A case study covering modern member communications issues
• Alternative legal models
• Trust law and trustee role and responsibilities
• What the trustee needs to know
• Trustee meetings, conflicts of interest and the use of advisers
• Internal controls and risk management
• Increasing the power of the regulator
• The actuary in DB and DC schemes
• The process and assumptions used in actuarial valuations
• Investment instruments
• The Statement of Investment Principles
• Selecting a fund manager and performance monitoring

All choices with respect to Pensions Governance were laid bare including the need for pensions reform to ensure that the pensions promise for adequate, affordable and sustainable benefits was not compromised. The need for a new paradigm in pensions governance in the face of inherent challenges (e.g. the worldwide financial crisis) was clearly articulated and practically demonstrated through case studies and group discussions. Well done Crown Agents.

Mr Rangarirai Dewah
IT Executive
Local Authorities Pension Fund, Zimbabwe