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Author Thornton, Paul, FIA.
Title Good Governance for Pension Schemes.
Imprint Cambridge : Cambridge University Press, 2011.

Author Thornton, Paul, FIA.
Series Law Practitioner Series
Law practitioner series.
Subject Pension trusts -- Law and legislation -- Great Britain.
Alt Name Fleming, Donald.
Description 1 online resource (324 pages).
Contents Cover; Good Governance for Pension Schemes; Law Practitioner Series; Title; Copyright; Contents; Figures; Tables; Contributors; Abbreviations; 1 Introduction; 2 Regulatory and supervisory context for occupational pension provision; Fundamental concepts; The development of private pensions, their regulation and supervision; The focus of regulation and supervision; Pension fund governance; What is good pension fund governance?; How is pension fund governance structured?; The regulation of pension fund governance; The role of the OECD; Governance problems; Regulatory solutions.
OECD Guidelines for Pension Fund GovernanceSupervising pension fund governance; Competence/expertise governing body; Accountability; Internal controls; The governance of Pension Supervisory Authorities; Regulation and supervision of pension scheme governance in the United Kingdom; Regulatory context; Institutional context; UK regulation of occupational pension scheme governance; Supervision of occupational pensions governance in the United Kingdom; Conclusions; 3 Pension funds and the capital markets; Pension funds and long-term investment; Emerging from the post-war environment.
How pension schemes provided finance for growthPension schemes in the great equity bull market; Attention switches to liabilities and bonds; Entering a period of turmoil; New definitions of scheme solvency; A reassessment of equities; Pension funds as suppliers of risk capital; The search for alternative asset classes; New approaches to risk; Consequences of pension scheme closures; The danger of a gap in the capital markets; 4 Social responsibility and fiduciary duties of trustees; Historical origins of fiduciary duties; The fiduciary duties of pension fund trustees.
The duty to act for a proper purpose of the trustDuty to act in the best interests of the beneficiaries; Duty to act prudently; The organic nature of fiduciary duties; Recent developments: the pension fund industry in the twenty-first century; The Freshfields Report; Principles of responsible investment; Fiduciary Responsibility Report: 'Freshfields II'; Active ownership of pension fund assets; Pension fund governance; Conclusions; 5 Good trusteeship; Moving towards better governance; Structure, composition and operation of trustee boards; Structure; Composition and operation.
Duties and responsibilities of trusteesPrudent man; Trustee knowledge and understanding (TKU); Accountability; Looking after stakeholders' interests; Members' interests; Employers' interests; Key issues on the trustee agenda; Getting support and help; Professional advisers and service providers; The sponsoring employer; Independence and liability; Independence; Liability for decisions; Conclusion; Appendix; The Pension Regulator's Codes of Practice (as at April 2011); 6 Conflicts of interest; Introduction; The legal framework; Conflicts of interest at common law; Self-interest conflict.
Note Duty/duty conflict.
Summary Written from a governance perspective, this book brings together pension fund management and operation.
Bibliography Note Includes bibliographical references and index.
Note Print version record.
ISBN 9781139100823
9781139101486 (electronic bk.)
113910148X (electronic bk.)
9781139003643 (electronic bk.)
113900364X (electronic bk.)
ISBN/ISSN 9786613341785
OCLC # 769342099
Additional Format Print version: Thornton, Paul. Good Governance for Pension Schemes. Cambridge : Cambridge University Press, ©2011 9780521761611

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