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Author: Great Britain: National Audit Office Publisher: The Stationery Office ISBN: 9780102951219 Category : Business & Economics Languages : en Pages : 60
Book Description
Some 20 million people in England and Wales have private sector work-based pension schemes. The Pensions Regulator was established in April 2005 to regulate these schemes, replacing the Occupational Pensions Regulatory Authority (Opra), with the statutory objectives to protect members' benefits, to promote improved governance of such schemes, and to reduce the risk of compensation being paid out by the Pension Protection Fund. This NAO report examines the regulatory approach taken and whether this addresses the key risks, given that any conclusions on the effectiveness of pensions regulation must be set in the long term context rather than based on shorter term fluctuations. Findings include that the Pensions Regulator has made good progress in establishing a sound risk-based approach to regulation, with clear links between its statutory objectives and its operational approach. As the regulator matures, it has the scope for a presumption of further transparency in its approach, and is taking steps to increase the information it makes available to the pensions sector. The report sets out a number of recommendations for further progress, bearing in mind that risks in the pensions environment can change quickly.
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher: The Stationery Office ISBN: 9780215514684 Category : Social Science Languages : en Pages : 40
Book Description
This fifteenth report from Committee of Public Accounts, in the 2007-08 session examines "The Pensions Regulator: progress in establishing its new regulatory arrangements" (HCP 122, ISBN 9780215514684). An earlier report from the NAO is also available, see (HCP 1035, session 2006-07, ISBN 9780102951219). Some 4 million people are still active contributors to work-based pension schemes (final salary schemes), with approximately some 20 million people having at some point contributed to such schemes with the value of the managed funds exceeding £700 billion. The Pensions Regulator (TPR), established in 2005, took over regulatory responsibility for such schemes. The Committee states that the TPR has acted to put the regulation of such schemes on a firmer footing, taking greater account of risk and possesses stronger powers to obtain information and intervene to protect members' benefits. The Committee also states though that the TPR has made a slower start in the regulation of money purchase schemes with room for improvement in the standards of scheme governance and communication with members. Further work is also required to improve the information held by the TPR about schemes and make use of that information to effectively regulate individual schemes.
Author: Great Britain: National Audit Office Publisher: The Stationery Office ISBN: 9780102951219 Category : Business & Economics Languages : en Pages : 60
Book Description
Some 20 million people in England and Wales have private sector work-based pension schemes. The Pensions Regulator was established in April 2005 to regulate these schemes, replacing the Occupational Pensions Regulatory Authority (Opra), with the statutory objectives to protect members' benefits, to promote improved governance of such schemes, and to reduce the risk of compensation being paid out by the Pension Protection Fund. This NAO report examines the regulatory approach taken and whether this addresses the key risks, given that any conclusions on the effectiveness of pensions regulation must be set in the long term context rather than based on shorter term fluctuations. Findings include that the Pensions Regulator has made good progress in establishing a sound risk-based approach to regulation, with clear links between its statutory objectives and its operational approach. As the regulator matures, it has the scope for a presumption of further transparency in its approach, and is taking steps to increase the information it makes available to the pensions sector. The report sets out a number of recommendations for further progress, bearing in mind that risks in the pensions environment can change quickly.
Author: OECD Publisher: OECD Publishing ISBN: 926408293X Category : Languages : en Pages : 251
Book Description
This publication presents recent OECD papers on risk and regulatory policy. They offer measures for developing, or improving, coherent risk governance policies.
Author: Sinéad Agnew Publisher: Bloomsbury Publishing ISBN: 1509922725 Category : Law Languages : en Pages : 415
Book Description
State pensions are the largest item in the UK social security budget, costing £96.7 billion in 2017/18. In the same year, 45.6 million people were members of UK occupational pension schemes (out of a total population of 66.4 million) and the total amount saved into workplace schemes in 2018 was £90.4 billion. A consequence of the pensions sector's large size has been that pensions law and social security law have become increasingly specialised areas of practice. Yet despite their social and economic importance and the fascinating legal issues they generate, pensions have not been the subject of sustained academic attention. This book starts to fill this gap by initiating a dialogue between practitioners and scholars working on pensions law and policy, groups who have much to learn from one another. This title is included in Bloomsbury Professional's Pensions Law online service.
Author: Paul Newman Publisher: Bloomsbury Publishing ISBN: 1526522721 Category : Law Languages : en Pages : 379
Book Description
The discovery of mistakes in pension scheme documents is as common as it is potentially serious for the administration of the scheme and for the sponsoring employer. The large sums invested in pension schemes mean that such mistakes are often very costly indeed. This book provides a practical guide to the different methods available to correct commonly-occurring mistakes in the governing provisions of pension schemes. It combines a detailed review of the law with (where relevant) practical tips, including analysis of the appropriate practice and procedure involved in the key methods of correction. With a significant body of case law enabling more authoritative answers to be given to the legal issues affecting the correction of pension scheme mistakes, and more and more mistakes being discovered because of the move to secure pension scheme liabilities with insurance companies, trustees and employers need swift and accurate legal advice on what they can do to correct such mistakes. This book provides them and their legal advisers with that advice ensuring they do not make the same costly mistakes that others have made. This book will help the reader to: · To select the most appropriate method of correcting the mistake · Consider including provisions in the terms of the pension scheme which may make the correction of the mistake easier and cheaper · Select the most tax-efficient way of correcting the mistake · Understand the processes involved in correcting the mistake · Better advise their clients as to how to deal with the mistake This title is included in Bloomsbury Professional's Pensions Law online service.
Author: Paul Thornton Publisher: Cambridge University Press ISBN: 1139500333 Category : Law Languages : en Pages : 323
Book Description
Regulatory and market developments have transformed the way in which UK private sector pension schemes operate. This has increased demands on trustees and advisors and the trusteeship governance model must evolve in order to remain fit for purpose. This volume brings together leading practitioners to provide an overview of what today constitutes good governance for pension schemes, from both a legal and a practical perspective. It provides the reader with an appreciation of the distinctive characteristics of UK occupational pension schemes, how they sit within the capital markets and their social and fiduciary responsibilities. Providing a holistic analysis of pension risk, both from the trustee and the corporate perspective, the essays cover the crucial role of the employer covenant, financing and investment risk, developments in longevity risk hedging and insurance de-risking, and best practice scheme administration.
Author: Great Britain: National Audit Office
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Author: Great Britain: National Audit Office
Author: Equality and Human Rights Commission
Author: OECD
Author: CFA Institute
Author: GREAT BRITAIN.
Author: Sinéad Agnew
Author: Great Britain
Author: Paul Newman
Author: Paul Thornton