Private Pensions Series No. 1: Private Pension Systems and Policy Issues
Private Pensions Series No. 1: Private Pension Systems and Policy Issues
Pension systems are changing the world over. Both OECD and non-OECD countries are coming to face the consequences of demographic changes, and some have already embarked on innovative processes of pension reform. In this new environment, employer and personal pension arrangements are expected to gain much prominence. This new OECD series is devoted to improving our understanding of private pension systems worldwide. It will provide an invaluable tool for academics, policy makers and actors in the private sector who will find in it a reference work on the main issues involved in the design, functioning, and regulation of private pension plans. This first volume provides an overview of recent developments in the private pension systems of four OECD countries (Hungary, Mexico, the United Kingdom and the United States) as well as an analy
Covid-19: Great North Run faces struggle over insurance guarantee
Published
image captionThe Great North Run was due to celebrate its 40th anniversary in 2020
The Great North Run is facing a struggle because of issues getting insurance in case it has to be called off due to Covid-19, the founder says.
Sir Brendan Foster said the key tool in holding major events was missing and there had been a huge market failure .
He said organisers faced being liable for costs and called on the government and insurance sector to meet.
The government said it was aware of the wider concerns around securing indemnity and was exploring support.
New rules must stop the online investment scammers
By Matt Burton 15
Fundamentally speaking, business and commerce is based on trust.
Consumers trust that the business they are dealing with will provide the goods or services they expect, and trust that they have legal protections and a right to recourse if the business does not deliver as promised.
This is particularly true of the financial services sector. Historically, the adage ‘my word is my bond’ has been a guiding principle for the sector, supported by robust legal protections alongside accessible dispute resolution mechanisms for consumers in the event of a breakdown in the relationship of trust.
Claims that commenced earlier than 2020 that are still in payment are not included.
Figures from the mutual insurer also show that the average age of a claimant on its Income Protection Plus policy was just 36 years old.
Chris Pollard, chief operating officer at The Exeter, said: “We really believe income protection can be lifechanging for our members, highlighted by the fact that we have been providing long-term support for many members, including an ongoing claim that started 24 years ago.
“Every claim we receive is a member, and potentially a family, turning to us for support in their moment of need, which is why we are proud to have paid over £10.1m in income protection claims in 2020.