PENSION TRANSFERS: MANAGING COMPLIANCE
| DOI | https://doi.org/10.1108/eb024847 |
| Date | 01 March 1995 |
| Published date | 01 March 1995 |
| Pages | 250-258 |
| Author | JOHN CUNLIFFE,STEVE MINGLE |
| Subject Matter | Accounting & finance |
PENSION TRANSFERS: MANAGING COMPLIANCE
Received: 6th February, 1995
JOHN
CUNLIFFE
AND
STEVE
MINGLE
JOHN CUNLIFFE
IS
A PARTNER IN THE LAW FIRM
MCKENNA & CO. HE IS VICE-PRESIDENT
OF
THE OCCUPATIONAL PENSIONS
ADVISORY SERVICE AND CHAIRMAN OF
ITS
PROFESSIONAL STANDARDS
COMMITTEE. HE HAS SPECIALISED IN
PENSIONS LAW FOR A NUMBER OF
YEARS AND ACTS BOTH FOR INSURANCE
COMPANIES AND SELF-ADMINISTERED
PENSION SCHEMES. HE WRITES
REGULARLY ON LEGAL SUBJECTS FOR
PENSIONS MANAGEMENT. HE IS THE
FOUNDER OF THE MAGNIFICENT
MUTUAL LIFE ASSURANCE SOCIETY
WHICH FEATURES REGULARLY IN THE
PAGES OF PENSIONS MANAGEMENT. IT IS
THE ONLY INSURANCE COMPANY TO
CARRY ON A FLOURISHING INSURANCE
BUSINESS IN SPITE OF BEING
UNAUTHORISED BY THE DEPARTMENT
OF
TRADE. HE IS THE AUTHOR OF THE
NATIONAL ASSOCIATION OF PENSION
FUNDS (NAPF) PUBLICATION 'THE ROLE
OF
THE PENSION FUND TRUSTEE'.
STEVE MINGLE
IS
AN ACTUARY WITH BACON & WOOD-
ROW. HE HAS PREVIOUSLY WORKED FOR
NPI, WILLIS FABER AND SWISS LIFE,
WITH WHOM HE GAINED THE UNUSUAL
DISTINCTION OF BEING EMPLOYED
SIMULTANEOUSLY AS PENSIONS ACTU-
ARY AND APPOINTED ACTUARY. HE
NOW
CONCENTRATES PURELY ON PEN-
SIONS,
AND MUCH OF HIS TIME IS
SPENT PROVIDING SPECIALIST ADVICE
ON AVC ARRANGEMENTS.
ABSTRACT
This paper
discusses
two aspects of
com-
pliance management in pension transfers.
The first
addresses
the claims that may be
brought before a court by investors to
whom
personal
pension schemes
were mis-
sold.
The second looks at the Securities
and Investments Board (SIB) guidelines
on the procedures to be followed by the
personal
pension
providers
in determining
250
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