Pension fund system - uk, Financial Management

Assignment Help:

The UK Pension Fund System

The UK Pension system is a three pillar pension system. A flat-rate first-tier pension is provided by the state and is known as the Basic State Pension (BSP). Second-tier or supplementary pensions are provided by the state, employers and private sector financial institutions, the so-called three pillars of support in old age.

Most occupational pension schemes in the UK have been set up as Pension Trust Funds. The interests of the beneficiaries are set out in the trust deed. In 1995, the Pensions Act established the Occupational Pensions Regulatory Authority (OPRA) as the regulatory authority for the pensions industry. It is financed by an annual levy on pension schemes. OPRA tookover most of the responsibilities of the Occupational Pensions Board (OPB) which had been set up under the 1973 Social Security Act to monitor schemes, rules on the preservation of benefits for early leavers, equal access and contracting-out requirements.

 


Related Discussions:- Pension fund system - uk

Portfolio management and asset pricing, I am facing some problems in my ass...

I am facing some problems in my assignment of Portfolio Management. Can anybody suggest me the proper explanation for it?

State the concept of overtrading, State the concept of Overtrading Over...

State the concept of Overtrading Overtrading can result in insolvency which means companies have severe cash flow problems. This means that a thriving company, which may look v

What are the government securities - debt securities, What are the Governm...

What are the Government Securities Government is one of the biggest borrowers from capital and money market. We have already taken a look at money market securities offered by

Explain the benefits of benchmarking, Explain the Benefits of benchmarking ...

Explain the Benefits of benchmarking - Better understanding of business, competition and customers. - Improves business performance and discourages complacency. - Good wa

Components of a callable bond, Components of a Callable Bond A callable...

Components of a Callable Bond A callable bond can be thought of as the sale of a call option by the investor to the issuer as it allows the issuer to repurchase the bond from t

Time value of money, Can you help me out on the Time value of money????? ...

Can you help me out on the Time value of money????? I need urgent help on this topic...

Principle of opportunity cost, Suppose you have recently been contracted as...

Suppose you have recently been contracted as a financial consultant to a London-based engineering company, Alpha Products Plc. The company uses three components as part of their pr

Define primary advantage to a corporation of investing, What is the primary...

What is the primary advantage to a corporation of investing some of its funds in working capital? By investing in working capital a firm acquires the liquidity it requirements he

What is institutional finance, What is Institutional Finance A natio...

What is Institutional Finance A nation's economic structure comprise a number offinancial institutions, like banks, pension funds, insurance companies, creditunions. These i

Discuss how a firm can maintain adequate working capital, Question1 Analys...

Question1 Analyse the financial requirements of a FMCG company Question2 If you are an investor and are interested in finding out the value of an amount of Rs 10,000 to be re

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd