…protecting pensions

Contractual Savings Conference

Supervisory and Regulatory Issues

in Private Pensions and Life Insurance

Governance and other changes in the UKTuesday 30 April 2002

Joe RobertsonOccupational Pension Regulatory Authority

…protecting pensions

Contractual Savings Conference

• Prudent person

• Member trustee knowledge and skills

• Investment knowledge

• Exemption for small funds?

…protecting pensions

Contractual Savings Conference

• Employer Related Investments

(the ghost of ENRON!)

• Socially Responsible Investment

…protecting pensions

Contractual Savings Conference

VALUATIONS

• Actuarial v Accountancy standards

• FRS17

• Too short a timeframe?

…protecting pensions

Contractual Savings Conference

• Are people living too long?

• Investment returns–Stocks–Bonds

…protecting pensions

Contractual Savings Conference

• Flight from Defined Benefit?

• Lower contributions to Defined contributions

• An unnecessary panic