Course Details

Regulatory Framework for Pensions Training Course

INTRODUCTION

The Regulatory Framework for Pensions Training Course is designed to provide an in-depth understanding of the regulatory landscape governing pension schemes. This course delves into the legal requirements, compliance standards, fiduciary responsibilities, and best practices necessary to manage pension plans effectively while adhering to complex regulatory frameworks. Participants will gain insight into major pension laws and regulatory bodies, risk management strategies, and the essential practices for maintaining regulatory compliance.

This training is ideal for professionals involved in pension management, administration, and compliance, equipping them with the knowledge to navigate and apply pension regulations confidently and effectively. This course prepares participants to manage the regulatory and compliance aspects of pension administration with confidence and ensures they are equipped to handle complex regulatory requirements in their pension-related roles.

DURATION

5 days

TARGET AUDIENCE

This Regulatory Framework for Pensions Training Course is ideal for:

• Pension plan administrators and managers.
• Compliance officers and legal professionals in the pension or HR sector.
• HR and benefits professionals who handle pension plan operations.
• Trustees and fiduciaries responsible for pension oversight.
• Financial advisors and consultants working with pension schemes.

 OBJECTIVES

Upon completing the course, participants will be able to:

1. Identify Key Regulatory Bodies and Regulations – Understand the primary laws and regulatory bodies overseeing pensions, such as ERISA, IRS, DOL (for the U.S.), or the Pensions Regulator and Pensions Act (for the U.K.).
2. Apply Regulatory Compliance Practices – Implement necessary compliance measures to meet legal requirements and reduce compliance risk.
3. Manage Fiduciary Responsibilities – Understand fiduciary roles and responsibilities, including duty of care and loyalty, and how to fulfill these obligations.
4. Navigate Data Protection and Privacy Laws – Ensure compliance with data privacy laws and security standards for safeguarding participant information.
5. Develop Risk Management and Governance Strategies – Recognize risks in pension administration and apply governance and oversight measures to mitigate them.
6. Stay Updated on Emerging Trends – Keep pace with evolving regulations and trends, including climate considerations in pension investments and ESG requirements.

 COURSE CONTENT

Module 1: Overview of Pension Regulatory Bodies and Laws

• Introduction to key regulatory agencies (ERISA, IRS, DOL in the U.S.; The Pensions Regulator in the U.K.).
• Understanding the primary laws that impact pension schemes (e.g., ERISA, Pensions Act, Social Security laws).
• Global pension regulations: a comparative look at international standards.

Module 2: Fiduciary Responsibilities and Compliance

• Fiduciary duties: duty of care, loyalty, prudence, and impartiality.
• Responsibilities of trustees and pension administrators.
• The role of compliance audits and maintaining documentation.

Module 3: Plan Governance and Risk Management

• Key components of effective governance in pension plans.
• Risk assessment and management strategies.
• Developing and implementing a governance policy.

Module 4: Regulatory Requirements for Contributions and Funding

• Guidelines for employer and employee contributions.
• Minimum funding standards for Defined Benefit plans and solvency requirements.
• Tracking contributions and understanding underfunded liabilities.

Module 5: Benefit Distribution Regulations

• Legal requirements for benefit calculations and distributions.
• Compliance in handling different payout scenarios: retirements, terminations, and deaths.
• Tax implications and withholding requirements on pension benefits.

Module 6: Data Privacy, Cybersecurity, and Participant Protection

• Overview of data protection laws (e.g., GDPR in the EU, CCPA in California).
• Best practices for safeguarding participant data.
• Addressing cybersecurity threats and maintaining secure systems.

Module 7: Emerging Regulatory Trends and ESG in Pensions

• Evolving pension regulations and their implications for plan administrators.
• Environmental, Social, and Governance (ESG) considerations in pension investments.
• The future of pension regulations: adapting to changes and new trends.

Module 8: Case Studies and Compliance Exercises

• Practical case studies on regulatory compliance, fiduciary responsibilities, and risk management.
• Hands-on exercises simulating real-world compliance scenarios.
• Developing a compliance checklist for effective monitoring and adherence

 CERTIFICATION

Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com