07 March 2007 - Review of Pensions Institutions: consultation paper published
A consultation document is published today as part of the independent Review of Pensions Institutions with an invitation for responses by 31 March.
Paul Thornton, a Managing Director of Gazelle Corporate Finance and a previous President of the Institute of Actuaries, was appointed to carry out the independent review by the DWP earlier this year.
The Institutional Review is looking at how the responsibilities of the pensions institutions - including The Pensions Regulator, Pension Protection Fund, and the Financial Services Authority in its pensions role – are arranged to ensure they support existing Government policy, and fit with its reform proposals and wider developments.
The consultation paper sets out the emerging issues and evidence presented so far.
Consultation is ongoing. The aim of the document is to encourage further discussion and build consensus on the way forward.
Paul Thornton will present his full findings and recommendations of the review to Ministers later in the spring.
Notes to editors
- The consultation paper and more information about the independent review, including the Terms of Reference and arrangements for submitting contributions, is available via the DWP pensions reform website: http://www.dwp.gov.uk/pensionsreform/institutional_review.asp
- The Institutional Review was announced in the White Paper ‘Security in retirement: towards a new pensions system’, published in May 2006. Further detail was outlined in the ‘Summary of responses to the consultation’ in October. Copies are available at http://www.dwp.gov.uk/pensionsreform/
- The previous press release, announcing the launch of the Review and Paul Thornton’s appointment on 16 January, is available at http://www.dwp.gov.uk/mediacentre/pressreleases/2007/jan/pens011-160107.asp
- The institutional review is included in the DWP’s Simplification Plan. Copies are available at http://www.dwp.gov.uk/aboutus/better_regulation/simplification_plan.pdf
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