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Author: Great Britain: Department for Work and Pensions
Publisher: The Stationery Office
ISBN: 9780101871020
Category : Social Science
Languages : en
Pages : 74
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Book Description
In Reinvigorating workplace pensions1 published last November, the Government set out to explore whether there was scope for a new category of defined ambition (DA) pensions that would complement the defined benefit (DB) and defined contribution (DC) structures that currently dominate the market. Automatic enrolment and the single-tier State Pension will provide a firm foundation for saving for retirement. But if the current forms of DC pension saving become the default alternative to traditional DB, the pension income of future generations from workplace pensions will be more uncertain than for past generations. Over the last 12 months the DA project - a joint project between DWP and the pensions industry - has been exploring options in a middle ground. The Government proposes that the regulation of workplace pension schemes should not focus on the detail of benefit design but on what is important to the member: ensuring that any promise or guarantee, whether from the sponsoring employer or scheme, provider is delivered. This Government proposes to make it easier for employers to sponsor new pension schemes where benefits accrue on a specified basis (e.g. related to salary); and also to allow additional flexibilities for future accruals only within existing DB schemes, including the possibility of allowing a statutory override to facilitate these changes. The new flexibility will remove constraints from the existing legislative framework while still giving employees the certainty of a pension scheme where the benefits are defined (such as in relation to their salary) with the security of the promise being sponsored by their employer
Author: Great Britain: Department for Work and Pensions
Publisher: The Stationery Office
ISBN: 9780101871020
Category : Social Science
Languages : en
Pages : 74
Get Book Here
Book Description
In Reinvigorating workplace pensions1 published last November, the Government set out to explore whether there was scope for a new category of defined ambition (DA) pensions that would complement the defined benefit (DB) and defined contribution (DC) structures that currently dominate the market. Automatic enrolment and the single-tier State Pension will provide a firm foundation for saving for retirement. But if the current forms of DC pension saving become the default alternative to traditional DB, the pension income of future generations from workplace pensions will be more uncertain than for past generations. Over the last 12 months the DA project - a joint project between DWP and the pensions industry - has been exploring options in a middle ground. The Government proposes that the regulation of workplace pension schemes should not focus on the detail of benefit design but on what is important to the member: ensuring that any promise or guarantee, whether from the sponsoring employer or scheme, provider is delivered. This Government proposes to make it easier for employers to sponsor new pension schemes where benefits accrue on a specified basis (e.g. related to salary); and also to allow additional flexibilities for future accruals only within existing DB schemes, including the possibility of allowing a statutory override to facilitate these changes. The new flexibility will remove constraints from the existing legislative framework while still giving employees the certainty of a pension scheme where the benefits are defined (such as in relation to their salary) with the security of the promise being sponsored by their employer
Author: Charles Sutcliffe
Publisher: Springer
ISBN: 1349948632
Category : Business & Economics
Languages : en
Pages : 325
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Book Description
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: Olivia S. Mitchell
Publisher: Oxford University Press
ISBN: 0198755449
Category : Business & Economics
Languages : en
Pages : 381
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Book Description
The 1964 termination of the Studebaker Corporation's pension plan wiped out or significantly reduced the pensions of thousands of the automaker's employees and retirees. In response, the US Congress passed the 1974 Employee Retirement Income Security Act (ERISA), a monumental and revolutionary piece of legislation crafted to address corporate pension underfunding. The bill also set new rules regarding defined benefit (DB) and other retirement plans, and it established the Pension Benefit Guaranty Corporation as a government-run insurer to serve as a backdrop to U.S. corporate pensions. Despite the bill's far-ranging scope, in the decades since its passage, it has become evident that ERISA failed to achieve many of its intended objectives. The corporate pension scene today is in turmoil, and most private employers have terminated or frozen their traditional DB plans. In their place, employers are increasingly substituting defined contribution (DC) retirement saving plans, which pose a new set of responsibilities on employees and their firms. This volume investigates how and why traditional approaches to pension risk management have failed, and we also explore the new mechanisms required to strengthen retirement security for the future. Lessons from international experience are also included, ranging from Singapore to Switzerland, and the Netherlands to Australia.
Author: Stationery Office (Great Britain)
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 574
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Book Description
Author:
Publisher: Stationery Office/Tso
ISBN: 9780102988338
Category : Law
Languages : en
Pages : 271
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Book Description
A TSO version of a title previously published by HM Government.
Author: Great Britain. Department for Work and Pensions
Publisher:
ISBN: 9781474106535
Category : Pensions
Languages : en
Pages : 48
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Book Description
Dated June 2014. Print and web pdfs available at https://www.gov.uk/government/publications. Government response to Cm. 8710 (ISBN 9780101871020) Web ISBN=9781474106542
Author: Shahid Yusuf
Publisher: World Bank Publications
ISBN: 0821381288
Category : Political Science
Languages : en
Pages : 244
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Book Description
This book explores the contrasting development options available to Beijing and Shanghai and proposes strategies for these cities based on their current and acquired capabilities, experience of other world cities, the emerging demand in the national market, and likely trends in global trade.
Author: Dave Ketchen
Publisher: McGraw-Hill/Irwin
ISBN: 9780073381282
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Overview: Strategy 08/09 is concisely written to cover the core strategy concepts within strategic management and to do so in a rigorous yet engaging way. This text builds on both real-life examples and academic research and provides appropriate cases chosen specifically for the textbook. Designed by faculty at a focus group, this text will published in 2-color format on an annual basis to ensure that company examples are current and relevant to students and instructors.
Author: Sandi J. Davies
Publisher: Butterworth-Heinemann
ISBN: 0128177489
Category : Business & Economics
Languages : en
Pages : 546
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Book Description
Eight previous iterations of this text have proven to be highly regarded and considered the definitive training guide and instructional text for first-line security officers in both the private and public sectors. The material included in the newest version covers all the subjects essential to the training of protection officers. This valuable resource and its predecessors have been utilized worldwide by the International Foundation for Protection Officers since 1988, as the core curriculum for the Certified Protection Officer (CPO) Program. The Professional Protection Officer: Practical Security Strategies and Emerging Trends provides critical updates and fresh guidance, as well as diagrams and illustrations; all have been tailored to the training and certification needs of today's protection professionals.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264060758
Category :
Languages : en
Pages : 104
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Book Description
This Guidance Manual includes detailed explanations on how to implement the OECD Decision on the Control of Transboundary Movements of Recoverable Wastes.
