Pensions as property

Legal Studies ◽  
1994 ◽  
Vol 14 (3) ◽  
pp. 345-363
Author(s):  
Richard Nobles
Keyword(s):  
Pension Funds ◽  
Overwhelming Majority ◽  
Occupational Pension ◽  
Defined Benefit ◽  
Pension Schemes ◽  
The Law ◽  
Trust Law ◽  
To Receive ◽  
Meaningful Sense

The overwhelming majority of employees who are members of occupational pension schemes belong to what are called ‘defined benefit’ schemes. These schemes provide for their members to receive a benefit defined by reference to a member’s salary at the date of their retirement or, if they change jobs, the salary paid just prior to their leaving. This article examines the rights of the members of defined benefit schemes. In particular, it considers claims by scheme members that the pension funds which secure their pensions represent their deferred pay, and that these funds are, in some meaningful sense, their property. The article argues that whilst the law of trusts may appear at first sight to lend support to the members’ claims, developments within the law of trusts, coupled with the underlying contradiction in the meaning of ownership in trust law, has made it difficult for the courts to recognise the members’ claims.

21. Wages and benefits

2019 ◽  
pp. 369-383
Author(s):  
Stephen Taylor ◽  
Astra Emir
Keyword(s):  
Minimum Wage ◽  
Employment Law ◽  
Living Wage ◽  
Occupational Pension ◽  
Pension Schemes ◽  
The Many ◽  
The Right ◽  
To Receive ◽  
Sick Pay

This chapter examines the distinct areas of employment law that regulate the payment of wages and benefits. It starts by focusing on the national minimum wage and national living wage legislation, describing how these work in practice and assessing the many debates that still surround the effectiveness and impact of this legislation. It goes on to explain the situations in which employers can and cannot lawfully make deductions from pay packets, the right for all employees to receive an itemised pay statement and the administration of statutory sick pay (SSP). Finally, it briefly discusses the regulation of occupational pension schemes.

Objectives and methods of funding defined benefit pension schemes

1987 ◽  
Vol 114 (2) ◽  
pp. 155-225 ◽  
Author(s):  
D. J. D. McLeish ◽  
C. M. Stewart
Keyword(s):  
The State ◽  
Pension Scheme ◽  
Occupational Pension ◽  
Defined Benefit ◽  
Pension Schemes ◽  
The Future ◽  
State Pension

The Objective of Funding1.1. As every actuarial student is taught:‘Pay-as-you-go is acceptable for a State pension scheme because the State is, for practical purposes, assured of a continuing existence.’However:‘The position is quite different in the case of an occupational scheme, since an employer's business may cease to exist.’1.2. It seems to us to follow, therefore, that the prime purpose of funding an occupational pension scheme must be to secure the accrued benefits, whatever they might be, in the event of the employer being unable or unwilling to continue to pay at some time in the future. To that end, the contributions would have to be sufficient both to pay the benefits as they fell due for as long as the scheme continued, and also to establish and maintain a fund which would be sufficient to secure the accrued benefits in the event of contributions ceasing and the scheme being discontinued, whenever that might occur.

scholarly journals Towards “Green” Trusteeship: new statutory amendments for occupational pension trustees

2019 ◽  
Author(s):  
Lloyd Brown
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Environmental Risks ◽  
Occupational Pension ◽  
General Duty ◽  
Social Governance ◽  
Pension Schemes ◽  
Regulatory Landscape

Abstract This article looks at the amendments to occupational pension schemes that are brought in by the Pension Protection Fund (Pensionable Service) and the Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018. It is respectfully submitted that the named regulations are legally compelling because they amend the regulatory landscape in a manner to enforce greater consideration of Environmental Social Governance risks by UK pension funds. In particular, this article engages with how the amendments are going to increase the pension fund trustees’ appetite to consider environmental risks (including climate-related risks) when exercising their general duty of investment.

Funding Defined Benefit Pension Schemes

2005 ◽  
Vol 11 (1) ◽  
pp. 63-97 ◽  
Author(s):  
C. A. Cowling ◽  
T. J. Gordon ◽  
C. A. Speed
Keyword(s):  
United Kingdom ◽  
Optimal Investment ◽  
Investment Strategy ◽  
Occupational Pension ◽  
Defined Benefit ◽  
Pension Schemes ◽  
Optimal Investment Strategy

ABSTRACTThis paper puts the case for the Actuarial Profession revising and tightening its standards on actuarial funding advice in relation to United Kingdom occupational pension schemes. We critique current actuarial practice and advocate principles for measuring solvency and providing funding advice. In particular, we advocate that funding targets should be clearly and unambiguously related to scheme solvency. The paper also covers optimal investment strategy, treatment of the ‘company covenant’ when giving funding advice and governance issues relating to pension schemes.

PERSINGGUNGAN KEWENANGAN MENGADILI PENYALAHGUNAAN DISKRESI ANTARA PENGADILAN TUN DAN PENGADILAN TIPIKOR / INTERCEPTION OF JUSTICE AUTHORITY OF DISCRETION ABUSE BETWEEN ADMINISTRATION COURT AND CORRUPTION COURTS

2018 ◽  
Vol 7 (2) ◽  
pp. 213
Author(s):  
Budi Suhariyanto
Keyword(s):  
Supreme Court ◽  
Criminal Law ◽  
Administrative Law ◽  
The State ◽  
Government Officials ◽  
Criminal Process ◽  
The Supreme Court ◽  
State Finance ◽  
The Law ◽  
To Receive

Diskresi sebagai wewenang bebas, keberadaannya rentan akan disalahgunakan. Penyalahgunaan diskresi yang berimplikasi merugikan keuangan negara dapat dituntutkan pertanggungjawabannya secara hukum administrasi maupun hukum pidana. Mengingat selama ini peraturan perundang-undangan tentang pemberantasan tindak pidana korupsi tidak merumuskan secara rinci yang dimaksudkan unsur menyalahgunakan kewenangan maka para hakim menggunakan konsep penyalahgunaan wewenang dari hukum administrasi. Problema muncul saat diberlakukannya Undang-Undang Nomor 30 Tahun 2014 dimana telah memicu persinggungan dalam hal kewenangan mengadili penyalahgunaan wewenang (termasuk diskresi) antara Pengadilan Tata Usaha Negara dengan Pengadilan Tindak Pidana Korupsi. Pada perkembangannya, persinggungan kewenangan mengadili tersebut ditegaskan oleh Peraturan Mahkamah Agung Nomor 4 Tahun 2015 bahwa PTUN berwenang menerima, memeriksa, dan memutus permohonan penilaian ada atau tidak ada penyalahgunaan wewenang (termasuk diskresi) dalam Keputusan dan/atau Tindakan Pejabat Pemerintahan sebelum adanya proses pidana. Sehubungan tidak dijelaskan tentang definisi dan batasan proses pidana yang dimaksud, maka timbul penafsiran yang berbeda. Perlu diadakan kesepakatan bersama dan dituangkan dalam regulasi tentang tapal batas persinggungan yang jelas tanpa meniadakan kewenangan pengujian penyalahgunaan wewenang diskresi pada Pengadilan TUN.Discretion as free authority is vulnerable to being misused. The abuse of discretion implicating the state finance may be prosecuted by both administrative and criminal law. In view of the fact that the law on corruption eradication does not formulate in detail the intended element of authority abuse, the judges use the concept of authority abuse from administrative law. Problems arise when the enactment of Law No. 30 of 2014 triggered an interception in terms of justice/ adjudicate authority on authority abuse (including discretion) between the Administrative Court and Corruption Court. In its development, the interception of justice authority is affirmed by Regulation of the Supreme Court Number 4 of 2015 that the Administrative Court has the authority to receive, examine and decide upon the appeal there is or there is no misuse of authority in the Decision and / or Action of Government Officials prior to the criminal process. That is, shortly before the commencement of the criminal process then that's when the authority of PTUN decides to judge the misuse of authority over the case. In this context, Perma No. 4 of 2015 has imposed restrictions on the authority of the TUN Court in prosecuting the abuse of discretionary authority.

Konsep Ihsân dalam Wacana Pendidikan Islam

TAJDID ◽  
2019 ◽  
Vol 26 (1) ◽  
pp. 1
Author(s):  
Husni Husni
Keyword(s):  
Existence Of God ◽  
Good Deed ◽  
The Law ◽  
To Receive ◽  
Islamic Society ◽  
Muslim Scholars ◽  
The Way

This article studies the concept of Ihsan (good deed) in the thought of ulama mufassirs (Muslim scholars interpretering the Qur’an). The result of the study being carried out by the writer is that the concept of ihsan being too narrowly interpreted, proves that it has wide interpretation in the thought of muffasirs. If so far among society the concept of ihsan has been narrowly interpreted on the good deed or doing good deed, so according to mufassirs, the concept means: (1) carrying out all obligations, (2) being patient to receive all the obligation and anything forbidden by God, (3) being obedient and always perfects his obedience in quality as well as in the way, (4) forgiving, (5) being sincere, (6) realizing the existence of God, (7) emphasizing the esoteric aspect rather than exoteric world, (8) knowledge, (9) being firm in the truthfulness, (10) havng understanding about the true teachings of God, (11) having good comprehension about the law appropriately applied among the Islamic society. The wide meaning of this concept because this concept is really expressed by the Koran in context. This article tries to attach the concept of Ihsan in several meanings about the education world

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