Pensions and Retirement Training Course on Managing Closed Pension Schemes
Master Pensions Retirement Training with expert training. 10 Days course with certification. Comprehensive training program. Online & in-person. Enroll now!
Pensions And Retirement Courses10 DaysCertificate Included
Duration
10 Days
Mode
Online & Physical
Certificate
Included
Language
English
Course Overview
This course provides a comprehensive understanding of the management of closed pension schemes, which are no longer open to new members but still require careful governance, funding, and administration. Participants will learn strategies to ensure solvency, optimize investment policies, manage liabilities, communicate effectively with members, and comply with regulatory requirements. The course combines actuarial, legal, and operational perspectives to equip professionals with tools for sustainable closed scheme management.
Secure enrollment • Professional certificate included
Learning Objectives
By the end of this course, participants will be able to:
Understand the challenges and dynamics of managing closed pension schemes.
Implement effective governance and risk management frameworks.
Monitor and optimize funding and investment strategies.
Communicate clearly with members about benefits, entitlements, and scheme status.
Manage liabilities, transfers, and scheme wind-up considerations.
Comply with regulatory, accounting, and reporting requirements.
Course Content
Module 1: Overview of Closed Pension Schemes Definition and types of closed schemes (DB, DC, hybrid) Reasons for closure: strategic, regulatory, or financial Key challenges in member management, funding, and communication Stakeholder roles and responsibilities Case study: Transition from open to closed schemes in corporate and public sectors Module 2: Governance and Risk Management Governance structures for closed schemes Fiduciary responsibilities of trustees and administrators Identifying and mitigating operational, investment, and funding risks Internal controls and audit mechanisms Workshop: Designing a governance framework for a closed scheme Module 3: Funding Strategies and Liability Management Monitoring funding ratios and solvency metrics Assessing contribution sufficiency and funding gaps Actuarial valuations and assumptions for closed schemes Liability-driven investment strategies (LDI) Stress testing and scenario analysis for long-term sustainability Exercise: Evaluating funding adequacy for a sample closed DB scheme Module 4: Investment Policy and Portfolio Optimization Aligning investment strategy with liabilities and risk tolerance Diversification, risk reduction, and liability matching ESG integration in closed scheme portfolios Monitoring investment performance and rebalancing strategies Case study: Investment strategies in mature closed funds Module 5: Member Communication and Engagement Managing expectations for existing members and retirees Clear and transparent benefit statements and updates Handling inquiries, complaints, and dispute resolution Digital portals and communication tools for ongoing member engagement Workshop: Developing a member communication plan for a closed scheme Module 6: Regulatory and Legal Compliance Understanding local and international regulatory frameworks Reporting and disclosure obligations Compliance with pension and labor laws, taxation, and accounting standards Preparing for regulatory audits and inspections Case study: Regulatory challenges in legacy schemes Module 7: Transfers, Buyouts, and Third-Party Solutions Options for member transfers to other schemes Buyout strategies with insurers or third parties Assessing costs and risks of buyouts or annuitization Negotiating contracts and fiduciary oversight Simulation: Planning a partial buyout for a closed pension scheme Module 8: Administration and Operational Efficiency Streamlining administration for cost control and accuracy Recordkeeping, data validation, and member tracking Payroll integration and pension payments management Technology solutions for managing closed schemes Exercise: Designing an operational workflow for a closed scheme Module 9: Stress Testing and Scenario Planning Modeling demographic, economic, and market risks Longevity risk, inflation, and interest rate shocks Contingency planning for funding shortfalls Using scenario analysis to inform strategy and governance decisions Workshop: Conducting stress tests for a closed DB fund Module 10: Planning for Scheme Wind-Up and Exit Strategies Criteria and timing for scheme closure or transfer Member notifications and entitlements management Legal and fiduciary considerations in wind-up Managing assets, liabilities, and residual obligations Capstone project: Developing a comprehensive closed scheme management plan
Who Should Attend
Pension Fund Managers, Trustees, Scheme Administrators, Actuaries, Compliance Officers, Policy Makers, Financial Advisors, Regulators, and Legal Experts involved in closed or legacy pension schemes.
