CDC Trustee Board

Hi, I'm Andy O'Regan, Chief Client Strategy Officer at TPT, and I'm delighted to unveil our newly appointed independent and highly experienced CDC trustee board. As the first provider to announce our intention to launch a CDC multi-employer scheme, we're proud to be at the forefront of pension innovation and the diverse expertise that our trustees bring will help create that solution and also provide rigorous oversight and governance.

So let's meet the trustee board. Kim, could you please introduce yourself?

Thanks, Andy. I'm Kim Nash. I'm the Chair of the Trustee Board. I'm Managing Director of Zedra and a qualified actuary. I've been a professional trustee for over 10 years, working with DC Schemes, DC Master Trusts, as well as DB.

So Kim, how do you think the CDC could fit in the market and what are the opportunities?

From a trustee perspective, we're really focused on member and member outcomes. So really excited to see CDC as another option that's available to employers. I think this gives much better flexibility to be able to provide retirement solutions that meets members' needs.

Thanks, Kim. Over to Alison. Could you introduce yourself?

Absolutely. I'm Alison Hatcher. I am the Head of Trusteeship at Vidett. I hold a number of executive and non-executive positions as well as trustees. I am on the board of Islington and Hackney Housing Association and also the University of Warwick Council, so the university sector as well.

Alison, what do you see some of the challenges of formulate an investment strategy for a CDC pension scheme.

So for us trustees, we need to focus on creating strong returns that are aligned with member benefits, both the younger and on an older generation. So we manage intergenerational fairness, but we also need to make sure that we are managing the volatility within the portfolio. We need to create stability so that benefits aren't impacted in the longer term, which would then erode the member confidence in the CDC scheme.

Venetia, please could you introduce yourself?

Hi, I'm Venetia Trayhurn. I'm a partner at Falcon Trustees. I'm an independent trustee with a legal background and I currently chair the first authorised CDC scheme in the UK with Royal Mail.

And what about the communications with members? What do you see as the challenges for the communication?

It's really important that members understand that they're building up a target pension, but the actual amount that's built up and paid out each year in retirement will be calculated annually and could go up and down. So it's not a guaranteed amount. But we think that CDC can play a significant role in enhancing member retirement savings. It's going to be really important that communications are clear and effective.

Great. thank you everyone, and we look forward to sharing more with you as we develop the solution and we continue to build that momentum.