| 8.00am |
Registration opens / arrival tea and coffee |
| 8.30am |
Welcome and introduction address: Regional collaboration – working together to achieve the best retirement outcomes for our members
- Why is it important that we come together for dialogue on regional issues relating to retirement outcomes?
- What are the benefits for us all to show leadership in the region and collaborate/cooperate on a range of issues we all face?
Forum facilitator: Pauline Vamos FASFA ASFA AIF, ASFA Chief Executive Officer (Australia) |
| 8.40am |
Official opening
Prof. K C Chan, SBS, JP, Secretary for Financial Services and the Treasury, Financial Services and the Treasury Bureau, Hong Kong |
| 8.55am |
Setting public policy around pension systems
Part 1 – Key presentations
- Design elements: which path to choose?
- Early access
- Choice of provider
- Underlying structure
- Levers for contributions
- Central administration
- Design elements: the role of insurance
- Global snapshot: What designs are out there?
- Global regulation: What is the current state of global regulation?
Part 2 – Q&A with panel
- What is the state of play including proposed reform in Australia?
- What is the state of play including proposed reform in Hong Kong?
- Why are reforms needed and how will they benefit the pension industry?
- What benefit will flow from the reforms to the end member?
- In the Three Pillar Policy system, how important is the role of the first pillar?
- Should the pension system form part of the social security system and sit alongside medical and housing assistance?
- What are the developments in operational structures?
- What are the global fiduciary issues?
Key presenters (50 mins)
Vanessa Wang, Managing Director and Pension Fund Services Head, Asia-Pacific Global Transaction Services, Citi (Hong Kong)
Jim Minto, Managing Director, TAL (Australia)
Peter Smyth, Regional Managing Director Asia-Pacific, MetLife (Hong Kong)
Ross Jones, Chairman, Australian Prudential Regulation Authority (APRA) (Australia)
Panellists in addition to above speakers (60 mins)
Jeremy Cooper Former Chair, Super System Review (Australia)
Naomi Denning, Managing Director, Investment Services, Asia-Pacific, Towers Watson (Hong Kong)
Chair: Pauline Vamos, CEO ASFA |
| 10.45am |
Morning tea |
| 11.15am |
Connecting with the fund member – effectiveness and future role of member education and advice
- What are the benefits of member engagement?
- Globally, how should we be raising the current level of member education and financial literacy?
- Advice from around the world – how is advice offered and what is the take up? What is the future role of advice?
- What are effective and innovative ways to communicate with members?
- What is the Global Standards Board doing in setting standards for the Asia-Pacific region?
Panellists
Steve Helmich, Director – Financial Planning, Advice & Services, AMP Financial Services (Australia) and Board member, Global Financial Planning Standards Board Ltd. (FPSB) (Global)
Alan Oates, Greater China Retirement, Risk & Finance Business Leader, Mercer (Hong Kong)
Chair: David Thomas, Chief Executive Officer, Think Global Consulting (Australia) |
| 12.10pm |
Session sponsored by: Institute of Actuaries Australia
The universal issue of post retirement – the challenge of an ageing population
- What is a worldwide snapshot of post retirement products?
- What are the different strategies on post retirement products – including the pros and cons of annuities and allocated pensions / flexible drawdown products?
- What are cultural and social impacts of retirement to be considered? Eg. Expectations of young to take care of elderly family members.
Speakers:
Jeremy Cooper, Chairman Retirement Income, Challenger Limited
Barry Rafe, President, Institute of Actuaries of Australia (Australia)
Chair: Harold Kim, Managing Director and Head of Cross Asset Group, Citigroup Global Markets Asia (Hong Kong) |
| 1.05pm |
Networking lunch |
| 2.00pm |
Breakout dialogue session (60 mins)
Risk management (operational sense)
- From a Prudential perspective, what are the global operational risks prudential regulators are seeing in the pensions industry?
- What are the operational risk issues certain in Asia, Australia and other jurisdictions around transactions and administration?
Speakers:
Ross Jones, Chairman, Australian Prudential Regulation Authority (Australia)
Josef Pilger, Executive Director Financial Services, Ernst & Young (Global)
Chair: Mike Button, Chairman, Hong Kong Retirement Schemes Association |
Breakout dialogue session (60 mins)
The role of the pension fund trustee and the questions they should be asking – Trustee code of conduct
- Decision making / oversight structures – what is recommended?
- Considerations in setting fees – what is sustainable publicly?
- Conflicts of interest – how can they be avoided?
- How to effectively manage all your service providers.
Speakers:
David Atkin, CEO Cbus (Australia)
John Edstein, Partner, Mallesons Stephen Jacques (Australia)
Chair: Ka Shi Lau, Vice Chairman, Hong Kong Trustees Association (Hong Kong) |
| 3.00pm |
Breakout roundtable session (60 mins)
Exploring hard and soft compulsion and defaults frameworks
- What are other systems used globally?
- Why from a public and economic policy view point is a compulsory system better?
- How will the design of default funds be altered?
- What are the issues around the mobility of people and migration?
Speaker:
Senator Nick Sherry, Former Federal Financial Services Minister for Superannuation (Australia)
Chair: Lorraine Berends, Principal Client Service & Marketing, Marvin and Palmer Associates, Inc.(Australia) |
Breakout dialogue session (60 mins)
The role of the pension fund trustee and the questions they should be asking – ensuring proper investment governance
- ESG and alternative investments – where do they belong?
- Oversight of fund managers
- Ensuring proper disclosure of investment performance
- Investment fees
- Case study – the governance of passive investing.
Speakers:
Alan Schoenheimer, Chairman Asia-Pacific, Russell Investments (Hong Kong)
Marco Montanari, Director Head of db X-trackers ETFs – Asia, Deutsche Bank (Hong Kong)
Chair: Robert Harrison, Chief Executive Officer, BNP Paribas Investment Partners (Australia) |
| 4.00pm |
Session sponsored by: AMP Capital Investors
Choice of fund & portability issues – the lessons with implementation
Speaker: Ping-Yi Yee, CEO, Central Provident Fund Board (Singapore)
- What are the challenges and opportunities of Choice of Fund?
- What is the role of the distribution networks through connecting it correctly along the value chain between funds, employers and employees
- What will the important frameworks to get right – data integrity, standards, protocols?
- What are the latest investor preferences and how will they impact choice of fund and portability?
- The associated requirement for transparency of fees and risk buckets.
Speaker: Darren McShane, Executive Director, Regulation and Policy, MPFA (Hong Kong)
- What are the similarities and differences between ‘choice of fund’ in Australia and the ‘employee choice arrangement’ (ECA) in Hong Kong?
- Why is ECA being introduced in Hong Kong, what are the drivers and who needs it?
- What are the challenges and opportunities of ECA?
- What is the timing for ECA and what are the pre-conditions to commencement?
- What are the most important elements relating to ECA?
Chair: Greg Healy, AMP Capital Investors (Singapore) |
| 4.55pm |
Closing remarks and thanks
Pauline Vamos, Forum facilitator |
| 5.00 - 6.15pm |
Networking drinks – Poolside, Island Shangri-La
Sponsored by: AIA |