Good Governance for Pension Schemes

Erscheinungsjahr 2015
ISBN: 978-0-521-76161-1
Verlag: Cambridge University Press

Buch, Englisch, 324 Seiten, Format (B × H): 157 mm x 235 mm, Gewicht: 622 g

Reihe: Law Practitioner Series

Regulatory and market developments have transformed the way in which UK private sector pension schemes operate. This has increased demands on trustees and advisors and the trusteeship governance model must evolve in order to remain fit for purpose. This volume brings together leading practitioners to provide an overview of what today constitutes good governance for pension schemes, from both a legal and a practical perspective. It provides the reader with an appreciation of the distinctive characteristics of UK occupational pension schemes, how they sit within the capital markets and their social and fiduciary responsibilities. Providing a holistic analysis of pension risk, both from the trustee and the corporate perspective, the essays cover the crucial role of the employer covenant, financing and investment risk, developments in longevity risk hedging and insurance de-risking, and best practice scheme administration.

Autoren/Hrsg.

Thornton, Paul

Fleming, Donald

Fachgebiete

• Rechtswissenschaften Ausländisches Recht Common Law (UK, USA, Australien u.a.)

Inhaltsverzeichnis

1. Introduction; 2. Regulatory and supervisory context for occupational pension provision; 3. Pension funds and the capital markets; 4. Social responsibility and fiduciary duties of trustees; 5. Good trusteeship; 6. Conflicts of interest; 7. Pension schemes and employment; 8. Employer support and the development of the sponsor covenant concept; 9. Establishing the funding requirements of pension schemes; 10. Effective oversight of pension administration; 11. Investment governance of defined benefit pension funds; 12. Hedging investment risk; 13. Managing longevity risk; 14. The role of insurance in the occupational pensions market; 15. Pension risk from a corporate perspective; 16. Investment management of defined contribution schemes; 17. Effective investment governance in defined contribution schemes; 18. Inside pension scheme governance.

Über Autor(innen)

Fleming, Donald
Donald Fleming joined Gazelle Corporate Finance Ltd in 2005 to launch its Pensions Advisory business. He has also worked as a corporate financier at Cazenove and Co. (latterly JPMorgan Cazenove) and practised as a banking lawyer with Clifford Chance, specialising in securitisation.

Thornton, Paul
Paul Thornton is responsible for the Pensions Advisory team at Gazelle Corporate Finance Ltd and has been involved with a number of Gazelle's major clients. In 2007 he led an independent review of pensions institutions for the Department of Work and Pensions.