Pensions Policy Institute meaning

In this issue: Brexit highlights Brexit SIs Post-Brexit transition guidance Constitutional and administrative law Equality and human rights Judicial review Information law Public procurement Subsidy control and State aid Other Public Law news Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Brexit highlights Cabinet Office publishes evaluation of Common Frameworks The Cabinet Office has released a review of the Common Frameworks, assessing how the UK Government and the devolved administrations collaborate after Brexit. Drawing on proforma data across 28 frameworks and six case studies, the review concluded that, although the frameworks support effective intergovernmental collaboration, there is scope to enhance cross-framework alignment, stakeholder participation and central guidance. It also observed that many processes within the frameworks remain untried, with limited examples of formal dispute resolution or managing divergence, and recommends continued evaluation as the frameworks mature. See: LNB News 18/07/2025...

More than one in four adults are unsure who manages their pension, while two in three have never attempted to recover misplaced or overlooked pension pots. This comes even though the typical unclaimed pot is valued at £9,470, as reported by the Pensions Policy Institute in 2024. Mike Ambery, Standard Life's Retirement and Savings Director, cautioned in a statement that 'millions' of UK employees could miss out on retirement money after losing sight of their pension funds. With frequent career moves now commonplace, he added, it is all too simple for pots to be forgotten, or fall off the radar completely altogether...

Automatic enrolment built a nation of savers TPR said pension schemes should deliver better choices for savers at the decumulation stage, when people first gain access to their retirement pots. The regulator issued this warning after research commissioned by the Pensions Policy Institute (PPI) revealed that 70% of Britons withdraw all their defined contribution (DC) retirement savings without taking professional advice or guidance. (See: TPR commissions PPI report on DC decumulation risk: unified industry action sought to enhance retirement support, LNB News 15/05/2025 10) Patrick Coyne, interim director of policy at TPR, said automatic enrolment had created a nation of savers. He added: Now we must move from a...

Sound administration underpins the smooth operation of a pension scheme and the delivery of good member outcomes, not least because administrators are typically members’ first port of call; consequently, their effectiveness, consistency and accuracy indeed strongly influence member experience and results. In short, administration counts because it is the usual locus of pension governance, safeguarding data accuracy, regulatory compliance and correct member outcomes being delivered on a consistent basis. What is a scheme administrator? For the purposes of this Practice Note, ‘scheme administrator’ means the individual or entity that supports the scheme’s day-to-day running by planning, managing and performing its administrative tasks. This can be an external provider, a dedicated internal team within the employer and/or the employer’s human resources or finance functions and departments. This usage is different from the ‘scheme administrator’ in Part 4 of the Finance Act 2004 (FA 2004), denoting the person or persons who ensure the scheme meets FA 2004 requirements in full. In practice, that statutory capacity is...

Meaning of ‘non-executive director’ The broad definition of ‘director’ is not closed. Under the Companies Act 2006 (CA 2006), a director is any person who occupies the office of director, whatever title they hold. Accordingly, this covers both executive and non-executive directors (NEDs). Executive directors are typically authorised, either by the company’s constitution or by authority delegated from the board, to manage the company’s day-to-day affairs, and they usually have a full-time service contract. NEDs generally: have no executive powers play a pivotal role in the company’s corporate governance are not employees of the company There are a number of challenges around granting shares to NEDs. This Practice Note considers the issues to assess when offering shares or share-based remuneration to NEDs, including: the potential impact on the NED’s independence the share dealing provisions of Assimilated Regulation (EU) 596/2014 for the UK, and the Market Abuse Regulation (Regulation (EU) 596/2014) previously and for the EU ...

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z This glossary provides helpful (re)insurance and underwriting definitions. For focused guidance on reinsurance terminology, see Practice Note: Reinsurance—essentials. A Accident An unforeseen or unintended event or incident that typically results in damage or injury (physical or financial) to the insured or a third party. Accidental damage Unintended or unexpected harm or damage caused to property or a person. Accidental death benefit Some life insurance policies pay an extra amount, over and above the original sum insured, if the insured dies because of an accident. Act of God (force majeure) An occurrence beyond anyone’s control, such as a natural disaster. Active underwriter The person with primary responsibility and authority to accept insurance and reinsurance risks on behalf of the members of a syndicate in the Lloyd’s market. See also Underwriter. Actuary A qualified professional who...