The mis-selling of personal pensions: a UK financial services scandal
Article Abstract:
The UK personal pension scandal has unjustly punished people who have correctly invested in insurance policies and who will now suffer lower returns from their investments. The scandal stemmed from the government's introduction in 1988 of personal pensions as an alternative to occupational schemes. The attendant publicity of the introduction, however, created the misperception that the pensions were better than occupational schemes. As a result, an estimated 10 billion pounds sterling will be needed to compensate the 2.25 million people who have been misled into buying the pensions.
Publication Name: Benefits & Compensation International
Subject: Human resources and labor relations
ISSN: 0268-764X
Year: 1999
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Pension provision in Kazakstan and Kyrgystan
Article Abstract:
Both the Kazakhstan and Kyrgyzstan government are faced with the same problems concerning their current employee pension system. These problems relate to collecting contributions, a lower pension level than the expected level of contribution, and a change in the economy from large state-owned companies into smaller privatized enterprises. Kyrgyzstan plans to adopt a three-tier contributions-related pension system while Kazakhstan has reformed its newly-funded pension system patterned after the Chilean system of accumulative pension fund.
Publication Name: Benefits & Compensation International
Subject: Human resources and labor relations
ISSN: 0268-764X
Year: 1997
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Pensions and divorce in the United Kingdom
Article Abstract:
The Law Society's Family Law Committee and the Pensions Law Review Committee suggested amendments to the Matrimonial Clause Act 1973 on pension issues in England and Wales. They plan to take into account the full value of pension benefits and split actual pension benefits to create a new entitlement for a divorcing spouse. The Pensions Act 1995 Regulations of June and July 1996 are discussed.
Publication Name: Benefits & Compensation International
Subject: Human resources and labor relations
ISSN: 0268-764X
Year: 1997
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