08 October 2020 – ‘Developing a long-term funding objective’
Paying the promised benefits is the key objective for all schemes. This requires trustees to look ahead and set clear plans for how the objective will be delivered and then manage its delivery within an IRM framework.
In their 2020 Annual Funding Statement, TPR noted that the good practice they observed among schemes that appear to do this well often involves trustees and employers agreeing a clear strategy for achieving their long-term goal, which recognises how the balance between investment risk, contributions and covenant support may change over time as the scheme gets better funded and more mature.
What does a long-term funding objective really mean and what do Trustees need to do differently?
We will be joined by Patrick Bloomfield, a Partner at Hymans Robertson and Ajeet Manjrekar, Co-Head of River and Mercantile Solutions.
Patrick was part of TPR’s Funding Industry Working Group, helping develop the new DB Funding Code of Practice. As a scheme actuary he’s advised on long-term funding for 20 years and currently Chairs the Association of Consulting Actuaries.
Ajeet is a qualified actuary with over 20 years’ experience in working with trustees to understand their specific investment and governance needs. He specialises in designing innovative solutions to achieve their funding objectives and manage their key investment risks effectively.