Metropolitan Pension Funds: What Might Follow Abolition?

Article Abstract:

In the United Kingdom, the metropolitan counties and Greater London Council are expected to be abolished on March 31, 1986. Pension funds need to plan for this beginning now to handle it effectively. The two aspects of pension fund management are investment management and fund administration. Due to deregulation, investment powers have increased in 1983. In order to handle this effectively, recruitment from the private sector is necessary as experts in local government are in short supply. Four choices exist for managing pension funds including amalgamation which is truly not a possibility due to the size of the individual funds. Politics can ruin the possibility of maintaining funds under one district council. Division of funds would likely add to additional costs and management time. Keeping the existing funds intact and administering them as joint committees appears to be the most viable option. Performance of the metropolitan funds has been high.

Compensation and benefits, Local government

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Ideas for equalising state pension ages

Article Abstract:

The UK Secretary of State for Social Security announced a consultation paper on the equalization of retirement ages. The paper explores the options available rather than proposing a definite program. Focus was on whether a fixed pension age or a flexible pension age should be implemented. Arguments for both are discussed. The document concludes with the resolution to end the present system of unequal pension ages for men and women, adding that it is inconsistent with the principle of equal treatment in employment.

Laws, regulations and rules, Social policy, Retirement age

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