Boal & Co hosts third annual Isle of Man Pensions Governance Conference | November 2024
20 November 2024
The only event of its kind for the Island, the full day conference, co-sponsored by Keystone Law (Isle of Man) took place at the Comis Hotel and was opened by the Minister for the Department for Enterprise, Hon Tim Johnston MHK.
Created for individuals involved with the provision, governance and or oversight of Isle of Man company pension schemes and Group Personal Pensions (GPPs), the conference attracted more than 90 people including HR professionals, pension trustees, business owners, lawyers, accountants and advisers.
The comprehensive agenda encompassed a wide range of topics delivered by leaders in the field of pensions from the Isle of Man and UK, in addition to three expert panel discussions.
The conference opened with an update from the Isle of Man Financial Services Authority who provided a comprehensive regulatory update followed by a panel Q&A.
Morning breakouts on actuarial issues and pension adequacy were led by Andrew Pugh of Mercer and Hannah English of Hymans Robertson respectively, followed by GDPR case studies delivered by Simon Evans of CMS and Ben Hughes of Keystone Law.
Grant Thornton’s Jasmine Chan took to the stage twice with an overview of FATCA and CRS in addition to a session on Withholding Tax.
A Defined Benefit (DB) breakout on investments from Richard Lunt of Hymans Robertson and Defined Contribution (DC) breakout on roles, responsibilities and good practice from Boal & Co’s Sara Vaughan and Mark Doyle followed.
Expert panel discussions on ‘Current Issues’ and ‘Horizon Scanning’ closed off the morning and afternoon, both chaired by Ben Hughes of Keystone Law.
Group General Manager and Director of Boal & Co (Pensions) Limited, Karen Kelly, commented:
“With almost 30 years in the industry, we have long held a vision for sharing knowledge and promoting pensions education locally. Three years ago, this vision came to light with the first ever Pensions Governance Conference. Since then, the event has grown in scale and substance and this year’s event was the best yet.
“I would like to thank our excellent speakers, our sponsor Keystone Law and my co-compère Ben Hughes. Also, our AV event managers, ELS who provided the highest quality event set up and technical support throughout.”
Ben Hughes of Keystone Law, commented:
“There are two obvious points to make with regard to the running of a pension scheme: it’s very much a team effort and it’s not getting any less complicated!
“One of the great things about this conference is that it pulls together stakeholders from all quarters of the Island’s pension community, including the professional advisers, the providers, the regulators, and the key decision makers (both professional and lay) who oversee the running of the Island’s domestic and international pension arrangements. As a result, it provides a unique opportunity to share content and exchange ideas that, currently, is not replicated elsewhere.
“Given the Island’s heritage as a leading jurisdiction for pension provision, this proactive approach to developing know-how and increasing expertise will be central to how the Island develops this sector and ensures that, ultimately, we remain a go-to jurisdiction for international schemes whilst delivering positive outcomes for local members and for the wider Isle of Man economy.”
The Pensions Governance Conference takes place in November every year. To register your interest for next year’s event, email events@boalco.com
