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The PLSA Annual Conference 2019

This year we were delighted to exhibit once again at the Pensions and Lifetime Savings Association’s Annual Conference.

It continues to be the biggest event of its kind within the Pensions industry and is always well attended, with 2019 being no different. In fact, it was suggested record numbers of over 1500 attendees travelled to Manchester this year to join the 3-day event. As a business, we find it a great opportunity to network with like-minded individuals, get up to date on what’s new and exhibit alongside some of the industry’s leading providers.

Attending the right type of events is a vital element in helping our business to operate at the highest level. They allow our industry experts to stay up to speed with changes, priorities and points of interest across the sector. The PLSA Annual Conference is a key event, attracting such as wide variety of attendees from pensions managers, finance directors and advisers, therefore providing a perfect platform to engage with all areas of the pensions sector. 

To better understand the industry and what we learnt from attending this event, we caught up with our Senior Business Development Manager Andrew Anderson to get his key insights into the trending topics within the pensions industry.

Our stand at PLSA Annual Conference 2019

What opportunities is the sector most excited about?

After numerous conversations across the 3 days, the main topic of conversation centred around the launch of the ‘Retirement Living Standards’. Split across 3 levels – minimum, moderate and comfortable – the standards have been designed to educate people further on the cost of living in retirement and help savers manage and plan their pension. As a business we understand how important pensions are to members and see this as a fundamental step forward towards guiding people into making better financial choices for their retirement. 

What are the biggest concerns/updates to the sector?

With sessions covering topics from how to harness technology, political changes and their impact, and developments in asset management, the PLSA addresses all corners of the industry. 

From conversations had with both clients across the year and attendees of the conference, some of the biggest concerns are based around the quality of member data, GMP equalisation, the consolidation of Defined Benefit pension schemes, and the governance gap within the sector.

How does the sectors’ needs differ from other industries?

Life and Pensions has always been and continues to play a key role in the UK economy. Some even see the industry’s core skill of pricing and managing long-term risk, as playing a significant role in helping alleviate some of societies biggest challenges over the coming years. Due to this and the ever-changing regulatory landscape, Pension Providers continue to re-invent their business models in order to target a new generation of customers.   

Attending the PLSA continues to be a key event in our diaries and we look forward to seeing you there next year! Visit our page for further information on how Western Union Business Solutions can help with your pension payments.

Opinions expressed herein are not representative of the views of Western Union Business Solutions and Western Union Business Solutions makes no warranty concerning the accuracy of this information and specifically disclaims any liability whatsoever for any loss arising from trading decisions based on the opinions expressed and information contained herein.