Communicating Information about the Funding of Occupational Pension Schemes to Scheme Members
Title | Communicating Information about the Funding of Occupational Pension Schemes to Scheme Members PDF eBook |
Author | Lorna Adams |
Publisher | |
Pages | 76 |
Release | 2003 |
Genre | Pension trusts |
ISBN | 9781843881117 |
Governance and Best Practice in Workplace Pension Provision
Title | Governance and Best Practice in Workplace Pension Provision PDF eBook |
Author | Great Britain: Parliament: House of Commons: Work and Pensions Committee |
Publisher | The Stationery Office |
Pages | 256 |
Release | 2013-02-12 |
Genre | Political Science |
ISBN | 9780215054128 |
Trusting in the Pensions Promise
Title | Trusting in the Pensions Promise PDF eBook |
Author | Great Britain: Parliamentary and Health Service Ombudsman |
Publisher | The Stationery Office |
Pages | 264 |
Release | 2006-03-14 |
Genre | Political Science |
ISBN | 9780102937343 |
This report sets out the results of the Ombudsman's investigation into over 200 complaints about the security of final salary occupational pension schemes and alleged delays in the winding-up of certain such schemes, and the involvement of public bodies in this matter. Chapter 1 explains the Ombudsman's role and jurisdiction and the background to the investigation. Chapter 2 details the complaints, and the Government's initial response; chapter 3 sets out the results of further enquiries to help understand the context of the complaints. The fourth chapter provides the evidence that the investigation has disclosed through consideration of departmental files, official publications and other documentary sources. Chapters 5 and 6 contain the findings and the recommendations. The seventh chapter gives the Ombudsman's assessment of the Government response (appendix D) to the report, and the final chapter is the Ombudsman's conclusion. The Ombudsman makes three findings of maladministration by public bodies: (i) official information about the security that members of final salary schemes could expect from the minimum funding requirement (MFR) was sometimes inaccurate, often incomplete, largely inconsistent and therefore potentially misleading; (ii) the response by DWP to the actuarial profession's recommendation that disclosure should be made to pension scheme members of the risks of wind-up and the risks to accrued pension rights; (iii) the decision in 2002 by DWP to approve a change to the MFR basis. This maladministration was a significant contributory factor in the creation of the financial losses suffered by individuals, amounting to injustice. Recommendations include restoration of the core pension and non-core benefits and some consolatory payments to those fully covered by the recommendations, an apology to scheme trustees for the effects of the maladministration, and a review with the pensions industry to improve the time taken to wind up schemes. The Government, however, is minded not to comply with all of the recommendations, and so the Ombudsman reports to both Houses of Parliament that she has identified injustice caused by maladministration which the Government does not propose to remedy.
Pension Schemes and Pension Funds in the United Kingdom
Title | Pension Schemes and Pension Funds in the United Kingdom PDF eBook |
Author | David Blake |
Publisher | |
Pages | 756 |
Release | 2003 |
Genre | Business & Economics |
ISBN | 9780199243532 |
Never has there been so much media interest in pensions as there is currently. Never has the pensions world changed so rapidly as it has over the last few years. This new edition of Pension Schemes and Pension Funds in the United Kingdom provides the latest information on all the key state and private pension schemes operating in the UK within the context of its long historical development since medieval times. It also examines government pensions policy over the last twenty years, and looks ahead to future trends and concerns.
The Myners Principles and Occupational Pension Schemes: Findings from case study research
Title | The Myners Principles and Occupational Pension Schemes: Findings from case study research PDF eBook |
Author | Sarah Horack |
Publisher | |
Pages | 172 |
Release | 2003 |
Genre | Capital investments |
ISBN |
Report of the Occupational Pensions Board in Accordance with Section 66 of the Social Security Act 1973, on the Questions of Solvency, Disclosure of Information and Member Participation in Occupational Pension Schemes: Report
Title | Report of the Occupational Pensions Board in Accordance with Section 66 of the Social Security Act 1973, on the Questions of Solvency, Disclosure of Information and Member Participation in Occupational Pension Schemes: Report PDF eBook |
Author | Great Britain. Occupational Pensions Board |
Publisher | |
Pages | 52 |
Release | 1975 |
Genre | Business & Economics |
ISBN |
Policy report on the financial aspects, legal aspects and administrative aspects of pension schemes in the UK, with particular reference to solvency requirements, availability of information and membership involvement - includes the written evidence submitted and a survey of practice in selected developed countries.
Kingdom of the Netherlands-Netherlands: Financial Sector Assessment Program:
Title | Kingdom of the Netherlands-Netherlands: Financial Sector Assessment Program: PDF eBook |
Author | International Monetary Fund. Monetary and Capital Markets Department |
Publisher | International Monetary Fund |
Pages | 91 |
Release | 2017-04-13 |
Genre | Business & Economics |
ISBN | 1475593988 |
This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for the Netherlands on the insurance and pension sectors. The governance, accountability, and internal processes of the supervisors, operating under a well-functioning twin-peaks model, are robust. With two-tier boards that include independent members, and an internal audit department, the governance structure of both supervisors is vigorous. Detailed documentation supports the internal processes. Discussions are underway to determine a new structure for the pension system, which may include shifting risks to the participants.