PAST WINNERS 2019

Three pension funds were crowned winners at the Pensions & Investments WorldPensionSummit, which took place in The Hague, recognising their achievements in communication, investment and plan design. As part of the P&I WorldPensionSummit, celebrating its 10th anniversary in The Hague, pension funds, based in five continents, presented their new ideas for how pension funds around the world could improve their operations across a range of topics, which are essential to savers and society. The categories spanned innovation in communication, plan design and investment, and were judged by an esteemed panel of global industry leaders.

Investment - Winner: CPEG, Caisse de prévoyance de l’Etat de Genève
In 2019, CPEG became the first pension fund to include a carbon footprint in its asset/liability management study. This followed a carbon footprint audit of most of its listed securities – 95% of equities (3,500 companies) and 85% of bonds (3,800 companies) – in 2018. The scheme wants to see its footprint on a downward trend, which the ALM study helps to illustrate, and is just one of several measures it has taken to be more socially and environmentally friendly. Its “multidimensional approach to address ESG exclusions”, sifts out companies both for “value reasons,” the scheme says. “As long as governments are remaining inactive, it is the responsibility of the investors to deal with these issues.”
Runner up: Amundi Pension Fund

Communication Winner: GuildSuper
Pension saving is usually based on a person’s income during their working lives – this, according to GuildSuper, puts some at an automatic disadvantage in retirement and is unfair. The superannuation’s SuperSuper scheme looks to make things more just, and targets just these people and enables them to save money in their daily lives. Through a “novel” system of cashback rewards at everyday stores, members can build up their savings even when they are not in active employment. An initial test of the scheme saw the potential retailer partners revised, with 60% of additional contributions now coming from Australia’s two main grocery stores. Some 3,567 have already registered, making a total of 3639 purchases, amounting to A$450, 141 and expected membership of 10,000 in two years.
Runner up: Association of Pension Funds Chile

Plan design: Airbus
Airbus employees in Germany have, since the start of 2019, been able to enrol in a new type of risk-sharing pension scheme that has taken pressure of the employer and opened up potentially higher investment returns. The fund is allocated initially into 70% equities and 30% bonds, with no shift in allocation based on members’ age as the company was not convinced lifecycle models gave better outcomes. Each year, Airbus sets a target return to give members some certainty around what to expect as a pay-out. Of this, around 70% will be paid into each employee’s individual account each month. Returns higher than this are paid into a buffer pool that, once full, will see the remaining funds divided up among members. When returns are lower than expected or negative, the buffer fund will compensate for shortfalls, with benefits only cut when it is depleted.
Runner up: Caixabank Employees’ Pension Scheme

The listed finalists per category:

Communication
Association of Pension Funds Chile, Fernando Larraín, CEO
Allianz Bulgaria Pension Company, Vladislav Roussev, CEO
Employees Retirement System of Texas, Nora Alvarado, Director of Voluntary Income Plans
GuildSuper, Todd Johnson, Head of Strategy and New Markets Guild Trustee Services
Stanbic IBTC Pension Managers Limited, Layo Ilori-Olaogun, Head Client Experience

Investments
Amundi Pension Fund, Nicolas Vauleon, CEO
Caisse de prévoyance de l’État de Genève, Grégoire Haenni, CIO
Fondo Pensione Nazionale BCC/CRA, Sergio Carfi zzi, General Manager

Plan Design & Reform
Airbus, Marcus Wilhelm, Head of Corporate Pensions
Caixabank Employees’ Pension Scheme, Jordi Jofra, Chairman Pensions Caixa 30
Fondo Pensione Nazionale BCC/CRA, Sergio Carfi zzi, General Manager
NJMPF, Bongi Mkhize, Deputy Chief Executive Officer and Principal Officer
Pension Fund of the Russian Federation, Anton Viktorovich Drozdov, Chairman of the Board

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