Course Overview
This 10-day training courseoffered at IRES is designed to provide an in-depth understanding of advanced pension scheme design principles and practices. Participants will explore complex aspects of pension fund management, including innovative design strategies, regulatory considerations, and financial modeling. The course integrates theoretical knowledge with practical application through case studies and real-life projects, focusing on optimizing pension schemes for sustainability and effectiveness.
Course Duration
10 Days
Target Audience
- Pension fund managers and administrators
- Actuaries and financial analysts specializing in pensions
- HR professionals responsible for pension scheme design and management
- Consultants and advisors in the retirement and benefits sector
- Finance and investment professionals with a focus on pensions
Organizational Impact
- Improved design and management of pension schemes, leading to better financial outcomes
- Enhanced ability to navigate complex regulatory environments and ensure compliance
- More effective risk management strategies, reducing the likelihood of underfunding
- Increased organizational capability in offering competitive and sustainable pension benefits
- Strengthened decision-making based on advanced analytical and modeling techniques
Personal Impact
- Advanced expertise in pension scheme design and financial management
- Enhanced problem-solving skills and analytical capabilities
- Practical experience in designing and evaluating complex pension plans
- Improved career prospects and opportunities in the pension and finance sectors
- Greater confidence in managing and optimizing pension schemes
Course Outline
Course Objectives
- Gain advanced knowledge of pension scheme design and management
- Understand complex pension plan structures and their implications
- Learn to apply financial modeling techniques to pension schemes
- Evaluate regulatory and compliance issues affecting pension funds
- Develop strategies for optimizing pension fund performance and sustainability
- Enhance skills in risk management and financial forecasting for pension schemes
Course Modules
Course Outline
Module 1: Advanced Pension Scheme Structures and Innovations
- Overview of advanced pension scheme designs
- Innovations in pension schemes: hybrid plans, cash balance plans, and more
- Comparative analysis of traditional vs. modern pension structures
- Case Study: Designing an innovative hybrid pension plan for a large corporation
Module 2: Financial Modeling for Pension Schemes
- Techniques for financial modeling of pension funds
- Asset-liability matching and forecasting
- Scenario analysis and stress testing for pension plans
- Project: Building a financial model to project future pension fund performance
Module 3: Actuarial Valuation and Funding Strategies
- Advanced actuarial techniques for pension valuation
- Developing funding strategies to address deficits and surpluses
- Dynamic funding and risk-sharing mechanisms
- Case Study: Conducting an actuarial valuation and proposing a funding strategy for a defined benefit pension plan
Module 4: Regulatory Frameworks and Compliance
- Key regulations affecting pension schemes (e.g., ERISA, Solvency II, IFRS 17)
- Compliance requirements and best practices
- Managing regulatory changes and their impact on pension design
- Project: Analyzing the impact of recent regulatory changes on a pension fund
Module 5: Risk Management in Pension Schemes
- Identifying and assessing risks in pension schemes
- Risk management strategies: diversification, hedging, and insurance
- Managing longevity, investment, and operational risks
- Case Study: Developing a risk management plan for a pension scheme with significant longevity risk
Module 6: Pension Scheme Optimization Techniques
- Strategies for optimizing pension scheme performance
- Balancing benefits, contributions, and investment strategies
- Enhancing member outcomes through scheme design improvements
- Project: Optimizing a pension scheme’s asset allocation and benefit structure
Module 7: Communication and Stakeholder Management
- Effective communication strategies for pension scheme changes
- Engaging with stakeholders: employees, retirees, and regulators
- Developing transparent reporting and communication practices
- Case Study: Creating a communication plan for implementing changes in pension benefits
Module 8: Technology and Innovation in Pension Management
- Emerging technologies and their impact on pension management
- Data analytics, artificial intelligence, and blockchain in pension schemes
- Implementing technological solutions for enhanced pension administration
- Project: Evaluating a technology solution for improving pension scheme efficiency
Module 9: International Perspectives on Pension Scheme Design
- Comparative analysis of pension systems across different countries
- Global best practices and lessons learned
- Adapting international practices to local contexts
- Case Study: Designing a pension scheme for a multinational organization with diverse employee demographics
Module 10: Strategic Planning and Future Trends in Pension Design
- Strategic planning for long-term sustainability of pension schemes
- Anticipating future trends and challenges in pension design
- Developing a forward-looking strategy for evolving pension needs
- Final Project: Creating a strategic plan for a pension scheme, incorporating advanced design features and future trends
Related Courses
Course Administration Details
Methodology
These instructor-led training sessions are delivered using a blended learning approach and include presentations, guided practical exercises, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience as professionals and trainers in these fields. All facilitation and course materials are offered in English. Participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation and Airport Transfer
Accommodation and Airport Transfer are arranged upon request. For reservations contact the Training Officer.
Tailor-Made
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
Payment
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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