The supervision and control of pension funding in the United Kingdom

1993 ◽  
Vol 120 (1) ◽  
pp. 67-129
Author(s):  
D. J. D. McLeish ◽  
C. M. Stewart
Keyword(s):  
United Kingdom ◽  
Defined Benefit ◽  
Pension Funding ◽  
The United Kingdom ◽  
Pension Schemes ◽  
And Control

AbstractThis paper looks at the existing controls on minimum funding standards and the solvency of defined benefit pension schemes in the United Kingdom. It considers the definition and disclosure of solvency margins and then goes on to look at the operation of a ‘Pensioners’ Protection Fund which would underwrite the solvency of schemes in a winding-up. With submissions due to the Goode Committee before the end of 1992, this paper will provide a well-timed opportunity to discuss some of the issues to be addressed by that Committee.

Two-Dimensional Mortality Data: Patterns and Projections

2007 ◽  
Vol 13 (3) ◽  
pp. 479-536 ◽  
Author(s):  
S. J. Richards ◽  
J. R. Ellam ◽  
J. Hubbard ◽  
J. L. C. Lu ◽  
S. J. Makin ◽  
...  
Keyword(s):  
United Kingdom ◽  
Late Life ◽  
Mortality Data ◽  
Defined Benefit ◽  
Two Dimensional ◽  
Public And Private ◽  
The United Kingdom ◽  
Pension Schemes ◽  
Pension Liabilities

ABSTRACTPatterns and trends in late-life mortality are of growing financial importance. The growth in pension liabilities, both public and private, are of crucial interest to governments, insurers and companies with defined benefit pension schemes. This paper explores the patterns in international mortality data, and draws important lessons for actuaries in the United Kingdom.

Pension Funding and Expensing in the Minimum Funding Requirement Environment

1997 ◽  
Vol 3 (3) ◽  
pp. 497-582 ◽  
Author(s):  
P.M. Greenwood ◽  
T.W. Keogh
Keyword(s):  
United Kingdom ◽  
Fundamental Change ◽  
Traditional Methods ◽  
Underlying Asset ◽  
Pension Funding ◽  
The United Kingdom ◽  
Pension Schemes ◽  
Actuarial Methods ◽  
The Difference

ABSTRACTThe statutory Minimum Funding Requirement (MFR) introduces fundamental change to the funding of pension schemes in the United Kingdom. While only a minority of schemes will actually be affected materially in terms of actual contributions or benefits, taken over a period of years, the influence of MFR will be much more widely felt. This is because the MFR is an absolute standard to be met, whereas long-term funding targets for ongoing schemes are, at least up to a point, optional and adjustable. The paper discusses the difference between MFR and long-term funding and suggests a variation on traditional actuarial methods to control explicitly the risk of MFR failure, based on a combination of traditional methods and the theories underlying asset/liability modelling. The paper also discusses the implications for pension expensing and communication of funding levels.

Autonomy, Power, and Control in Palliative Care

1999 ◽  
Vol 8 (2) ◽  
pp. 139-147 ◽  
Author(s):  
P. ANNE SCOTT
Keyword(s):  
Palliative Care ◽  
United Kingdom ◽  
Terminally Ill ◽  
Review Of The Literature ◽  
The United Kingdom ◽  
Power And Control ◽  
And Control

A review of the literature on palliative care in the United Kingdom over the last fifteen years suggests that elements such as the development of the modern hospice, on the model developed by Cicely Saunders (at St. Christopher's Hospice, London), have led to major improvements in the lot of the terminally ill.

State and Private Pension Schemes in the European Economic Community and the United Kingdom

1963 ◽  
Vol 89 (3) ◽  
pp. 157-225 ◽  
Author(s):  
A. R. N. Ratcliff
Keyword(s):  
United Kingdom ◽  
European Economic Community ◽  
Customs Union ◽  
Economic Community ◽  
European Economic ◽  
The United Kingdom ◽  
Pension Schemes ◽  
Treaty Of Rome ◽  
The Common

The European Economic Community came into existence on 1 January 1958, following the ratification of the Treaty of Rome by the parliaments of the six member countries, Belgium, France, Germany, Italy, Luxembourg and the Netherlands. The long-term aim of ‘The Six’ in setting up the Community was to achieve a unified economic unit with a common economic policy, and whilst commonly referred to in the United Kingdom as the Common Market it should not be thought of merely as an advanced form of customs union.

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