Purpose of the Review
The Government's pension reform proposals, particularly the new scheme of personal accounts, will have significant implications for the pensions institutions. This made it appropriate, and in line with the principles of good governance and better regulation, to review the functions of the current institutions involved in the regulation and protection of work-based pensions.
The purpose of the Review was to examine how the functions of the Pension Protection Fund and the Pensions Regulator and other institutions involved in the regulation and protection of work-based pensions, including the Financial Services Authority, fit with the Government's existing pension policies, its pension reform proposals and wider developments in the pensions market. It also extended to those organisations involved in provision of advice, mediation, dispute resolution or compensation for pensions.
The aim of the Review was to encourage debate and build consensus on the most appropriate way to organise institutional responsibilities to deliver Government pension policies in the future.
Read the Terms of Reference for the review
Read the Review announcement press release (January 2007)
Read the Review consultation press release (March 2007)
The background to the Review can be found in the Pensions White Paper Towards a New Pensions System, published in May 2006, and the Summary of responses to the consultation in October 2006.