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Following an industry-wide step change towards focusing on income replacement in defined contribution pension plans, Elian is hosting a seminar on pensions and the changing dynamics in retirement planning to support local employers, advisers and private clients in understanding these changes.
The seminar, which will be held at Elian’s Esplanade premises on 13th April, is aimed at professionals in senior HR roles and the intermediary market – lawyers, accountants and pension advisers.
Elian associate director Meeku Patidar will discuss the shift in defined contribution pension plans and future considerations, while Nancy Chien and James Campbell of Bedell will explore pension developments in Jersey. Kevin Barr, executive vice president of SEI Investment Management will consider trends in money management and Chris Bulleyment and Mike Haynes of PwC will close the seminar with a presentation on Qualifying Non-UK Pension Schemes (QNUPS).
The recently launched Elian Income Replacement Plans offer a holistic income replacement philosophy that takes into account a wide range of factors such as age, inflation, interest rates, mortality, wage inflation and investment risk, enabling participants to target an income replacement rate suitable for them.
Meeku Patidar said: "The pension industry has generally encouraged individuals to focus on their accumulated fund value and investment growth to fund retirement. At Elian, we think the focus should shift towards targeting an income replacement rate to help make sure enough income is available for retirement, which is why we are launching the Elian Income Replacement Plans. Using financial modelling and technology systems, we can help employers and individuals work toward this, helping reduce the degree of uncertainty around the level of income individuals will receive in later life.
"Employers often feel a responsibility to help their employees plan for retirement, reduce the uncertainty around this planning and help them make well informed decisions about their futures. The seminar will help employers and advisers to understand the changes and developments in the pensions industry and the options available to ensure they are offering their employees and clients suitable support and guidance."
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