Julius Pursaill is no longer at WTW’s Cushon. Maybe his extraordinary story when building the Master Trust from a start up to what NatWest bought needs rehearsal. It doesn’t look a story that Willis Towers Watson bought but he should give a more receptive audience at the Pension PlayPen coffee morning

Cushon was a business about building relationships with members. It was founded on how Cushon spoke with members and how Cushon invested their money.

There are other firms that are running DC schemes that satisfy their customers. This blog has been running blogs on Pension Bee since 2016 and about Collegia who are doing the same thing with workplace pensions.

At Tuesday’s meeting we’ll be hearing from Julius what needs to be done if DC masters are to withstand the interest in pensions , satisfied by CDC.

Now DC saving schemes are on the way out and everyone in them will be guaranteed a lifetime income.

Julian will be telling us about the challenge the guided retirement framework creates for DC schemes and how they are going to have to raise their game  if their money isn’t going to transfer to collective pensions.

Julian is in no doubt that CDC schemes are going to challenge commercial and employer owned DC schemes by taking away not just their future contributions but their existing pots.

He also sees DC schemes that haven’t shaped up will find their opportunity to make money from those past normal retirement age, has been transferred to better marketed alternatives

The lazy workplace and legacy pension arrangements don’t wash it with soon to be pensioners with large pots

These are being picked off by wealth managers such as SJP  and transferred to fast growing schemes such as Pension Bee.

says Julius

DC schemes of whatever type should try harder to engage and KEEP members!  This coffee morning is for providers, proprietors,  trustees, advisors and unions (representing members).

Master Trust profitability will increasingly be valued by how successfully AI is harnessed to create emotional connections with members.

Those providers that get their members interested in where money is invested will convert those emotional connections into higher AUM, more new business wins, increased profitability and better member outcomes.  These pensions will be better aligned with regulators Julius Pursaill believes such pensions will be  creating a self-reinforcing virtuous circle.

There is no value in operating a price cutting strategy. It will not satisfy VFM assessments.

While the regulatory framework appears to protect incumbents already at scale, the structural challengers many Master trusts face in executing this strategy provides an opportunity for those more flexible, far sighted Master Trusts to create a sustainable competitive advantage. The scale benefits of early execution will compound, Pursaill believes

To Register:

Please add to your calendar this link

https://teams.microsoft.com/meet/3150191526781157?p=cUU7z7JO9ZYMob3gp9

and CLICK HERE on the day or on the link below.

In addition to the work he has done as Chair of the RBS  Trustee and helping Cushon , Julius is a Governor of the Pensions Policy Institute and is a NED of Guiide. TREX  and Plunder AI,

We hope you can join