Pension Protection Fund Annual Report And Accounts 2013 14
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| Author | : Great Britain. Parliament. House of Commons. Work and Pensions Committee |
| Publisher | : The Stationery Office |
| Total Pages | : 28 |
| Release | : 2015 |
| Genre | : Business & Economics |
| ISBN | : 0215081501 |
In 2008, the Liaison Committee and the Government agreed a process for departmental select committees to undertake pre-appointment hearings in which they examine the suitability of the Government's preferred candidate for certain public posts. The purpose is to test the individual's independence and expertise, consider any potential conflicts of interest and explore how the individual intends to undertake the job, including his or her accountability to the Committee. Select committees do not have the power to veto appointments. However, the Minister is expected to consider relevant observations before proceeding with an appointment. The pre-appointment hearing for the posts of Pensions Ombudsman and Pension Protection Fund Ombudsman (held by the same individual) falls within the remit of the Work and Pensions Committee. On 15 October 2014 the Minister for Pensions informed us that Tony King, the current Pensions Ombudsman and Pension Protection Fund Ombudsman, would be stepping down in spring 2015.[4] He set out the recruitment exercise that would be followed to select the new Ombudsman and invited us to undertake pre-appointment scrutiny of the preferred candidate, in accordance with the agreed arrangements. The Department for Work and Pensions (DWP) launched the recruitment process on 29 November 2014. The Minister notified us of the name of the preferred candidate on 3 February 2015. In announcing the selection process, DWP also indicated that a recruitment exercise would be undertaken for the post of Deputy Pensions Ombudsman (and Deputy Pension Protection Fund Ombudsman). This is a part-time role and is not subject to a pre-appointment hearing.
| Author | : Great Britain: National Audit Office |
| Publisher | : The Stationery Office |
| Total Pages | : 44 |
| Release | : 2010-02-05 |
| Genre | : Business & Economics |
| ISBN | : 9780102963465 |
The Pension Protection Fund offers protection to some 12.4 million pensioners in private sector defined benefit (often known as final salary) pension schemes should their employer become insolvent. The Fund currently manages its assets well and has not been exposed to severe losses in the recession. In 2008-09, the Fund's investments increased in value by 13.4 per cent. The Fund's standard investments saw a return of minus 3.4 per cent in 2008-09 (against the market average for the same combination of asset classes of minus 3.6 per cent). But, as the Fund's assets grow, the investment operation will require additional skills and the Fund should consider adapting its investment processes. The Fund's deficit increased during the recession - from £517 million in March 2008 to £1.2 billion in March 2009 - largely because of the combined deficit of the increased number of schemes being assessed on whether they should be transferred to the Fund. However, the value of the Fund's assets far outweighs its annual compensation payments: at the end of March 2009 its assets were £3.2 billion but its current compensation payments amount to £70 million a year. The Fund has developed a suitable model to assess future liabilities and this has proved resilient to a range of stress tests. The model's longer-term projections are sensitive to important assumptions, so the Fund should establish a framework for illustrating the sensitivity of output from its long-term risk model.
| Author | : American Bar Association. House of Delegates |
| Publisher | : American Bar Association |
| Total Pages | : 216 |
| Release | : 2007 |
| Genre | : Law |
| ISBN | : 9781590318737 |
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
| Author | : Charles Sutcliffe |
| Publisher | : Springer |
| Total Pages | : 325 |
| Release | : 2016-11-25 |
| Genre | : Business & Economics |
| ISBN | : 1349948632 |
Occupational pensions are major participants in global financial markets with assets of well over $30 trillion, representing more than 40% of the assets of institutional investors. Some occupational pension funds control assets of over $400 billion, and the largest 300 occupational pension funds each have average assets of over $50 billion. The assets of UK pension funds are equivalent to UK GDP, and US pension fund assets are 83% of US GDP. These statistics highlight the importance of pension funds as major players in financial markets, and the need to understand the behaviour of these large institutional investors. Occupational pensions also play an important, but neglected, role in corporate finance. For example, US company pension schemes account for over 60% of company market value, and yet they are often ignored when analysing companies. This book is based on the substantial body of evidence available from around the world on a topic that has become increasingly important and controversial in recent years. Written for practitioners, students and academics, this book brings together and systematizes a very large international literature from financial economists, actuaries, practitioners, professional organizations, official documents and reports. The underlying focus is the application of the principles of financial economics to occupational pensions, including the work of Nobel laureates such as Merton, Markowitz, Modigliani, Miller and Sharpe, as well as Black. This book will give readers an up-to-date understanding of occupational pensions, the economic issues they face, and some suggestions of how these issues can be tackled. The first section explains the operation of defined benefit and defined contribution pensions, along with some descriptive statistics. The second section covers selected aspects of occupational pensions. The focus of these first two sections is on the economic and financial aspects of pensions, accompanied by some basic information on how they operate. This is followed by three further sections that analyse the investment of pension funds, the corporate finance implications of firms providing pensions for their employees, and annuities.
| Author | : Stationery Office (Great Britain) |
| Publisher | : |
| Total Pages | : 574 |
| Release | : 2013 |
| Genre | : Government publications |
| ISBN | : |
| Author | : Alabama. Auditor's Office |
| Publisher | : |
| Total Pages | : 1250 |
| Release | : 1909 |
| Genre | : Finance |
| ISBN | : |
| Author | : Great Britain: Law Commission |
| Publisher | : The Stationery Office |
| Total Pages | : 302 |
| Release | : 2013-10-28 |
| Genre | : Business & Economics |
| ISBN | : 9780108512728 |
The consultation paper Fiduciary Duties of Investments Intermediaries: A Consultation Paper follows on from the Kay Report on UK Equity Markets and Long Term Decision Making (see below), and uses pensions as the example, tracing a chain of intermediaries from the prospective pensioner/saver to the registered shareholder of a UK company. There are well established duties on pension trustees to act in the best interests of scheme members, and it looks at how far these duties require trustees to maximize financial return over a short time scale, and how far trustees can consider other factors such as environmental and social impact. The consultation asks: Whether the law is right to allow trustees to consider ethical issues only in limited circumstances? Whether the legal obligations on trustees are conducive to investment strategies in the best interests of the ultimate beneficiaries? and if not, what specifically ne
| Author | : John Piggott |
| Publisher | : Elsevier |
| Total Pages | : 1080 |
| Release | : 2016-11-21 |
| Genre | : Social Science |
| ISBN | : 0444634045 |
Handbook of the Economics of Population Aging synthesizes the economic literature on aging and the subjects associated with it, including social insurance and healthcare costs, both of which are of interest to policymakers and academics. These volumes, the first of a new subseries in the Handbooks in Economics, describe and analyze scholarship created since the inception of serious attention began in the late 1970s, including information from general economics journals, from various field journals in economics, especially, but not exclusively, those covering labor markets and human resource issues, from interdisciplinary social science and life science journals, and from papers by economists published in journals associated with gerontology, history, sociology, political science, and demography, amongst others. - Dissolves the barriers between policymakers and scholars by presenting comprehensive portraits of social and theoretical issues - Synthesizes valuable data on the topic from a variety of journals dating back to the late 1970s in a convenient, comprehensive resource - Presents diverse perspectives on subjects that can be closely associated with national and regional concerns - Offers comprehensive, critical reviews and expositions of the essential aspects of the economics of population aging
| Author | : Sinéad Agnew |
| Publisher | : Bloomsbury Publishing |
| Total Pages | : 422 |
| Release | : 2020-08-20 |
| Genre | : Law |
| ISBN | : 1509922717 |
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 | : |
| Publisher | : |
| Total Pages | : 936 |
| Release | : 1907 |
| Genre | : Finance, Public |
| ISBN | : |
