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Pensions Commission
The Pensions Commission was a non-departmental public body in the United Kingdom, reporting to the Secretary of State for Work and Pensions, set up to keep under review the regime for UK private pension A private pension is a plan into which individuals contribute from their earnings, which then will pay them a private pension after retirement. It is an alternative to the state pension. Usually, individuals invest funds into saving schemes or mu ...s and long-term savings. The commission was announced in thPensions Green Paperpublished in December 2002. It consisted of three Commissioners and a small secretariat. The chair was Adair Turner, Baron Turner of Ecchinswell, Adair Turner, the other members were John Hills (academic), John Hills and Jeannie Drake. The Commission has now reported and been wound up. A more recent Independent Public Services Pensions Commission, Pensions Commission was set up chaired by John Hutton. Remit The Commission was responsible for looking at how ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-departmental Public Body
In the United Kingdom, non-departmental public body (NDPB) is a classification applied by the Cabinet Office, Treasury, the Scottish Government and the Northern Ireland Executive to public sector organisations that have a role in the process of national government but are not part of a government department. NDPBs carry out their work largely independently from ministers and are accountable to the public through Parliament; however, ministers are responsible for the independence, effectiveness and efficiency of non-departmental public bodies in their portfolio. The term includes the four types of NDPB (executive, advisory, tribunal and independent monitoring boards) but excludes public corporations and public broadcasters (BBC, Channel 4 and S4C). Types of body The UK Government classifies bodies into four main types. The Scottish Government also has a fifth category: NHS bodies. Advisory NDPBs These bodies consist of boards which advise ministers on particular policy areas. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secretary Of State For Work And Pensions
The secretary of state for work and pensions, also referred to as the work and pensions secretary, is a secretary of state in the Government of the United Kingdom, with overall responsibility for the business of the Department for Work and Pensions. The incumbent is a member of the Cabinet of the United Kingdom. The office holder works alongside the other Work and Pensions ministers. The corresponding shadow minister is the shadow secretary of state for work and pensions and the shadow secretary of state for the future of work. The performance of the secretary of state is also scrutinised by the Work and Pensions Select Committee. The office is currently held by Mel Stride. Responsibilities Corresponding to what is generally known as a labour minister in many other countries, the work and pensions secretary's remit includes: * Support people of working age * Oversight of employers and pensions * Fiscal Consolidation * Providing support for disability * Support for fam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Called ''retirement plans' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an Indo-European word stem. The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics, yet the meaning of wealth is context-dependent. An individual possessing a substantial net worth is known as ''wealthy''. Net worth is defined as the current value of one's assets less liabilities (excluding the principal in trust accounts). At the most general level, economists may define wealth as "the total of anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various individuals and in different contexts.Denis "Authentic Development: Is i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commissioner
A commissioner (commonly abbreviated as Comm'r) is, in principle, a member of a commission or an individual who has been given a commission (official charge or authority to do something). In practice, the title of commissioner has evolved to include a variety of senior officials, often sitting on a specific commission. In particular, the commissioner frequently refers to senior police or government officials. A high commissioner is equivalent to an ambassador, originally between the United Kingdom and the Dominions and now between all Commonwealth states, whether Commonwealth realms, republics or countries having a monarch other than that of the realms. The title is sometimes given to senior officials in the private sector; for instance, many North American sports leagues. There is some confusion between commissioners and commissaries because other European languages use the same word for both. Therefore titles such as ''commissaire'' in French, ''Kommissar'' in German and ''c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adair Turner, Baron Turner Of Ecchinswell
Jonathan Adair Turner, Baron Turner of Ecchinswell (born 5 October 1955) is a British businessman and academic and was Chairman of the Financial Services Authority until its abolition in March 2013. He is a former Chairman of the Pensions Commission and the Committee on Climate Change, as well as a former Director-General of the Confederation of British Industry. He has described himself in a BBC HARDtalk interview with Stephen Sackur as a ' technocrat'. He is a vocal advocate of monetary financing and "helicopter money" whereby central banks would directly finance government spending or cash distribution to citizens. Since 2010, he has written monthly opinion columns on economic and regulatory policy for Project Syndicate. Early life Adair Turner was born in Ipswich. He grew up in Crawley and East Kilbride (both new towns. His father Geoffrey was a University of Liverpool-educated town planner). Adair attended Hutchesons' Grammar School in Glasgow, then moved to Glenalmond C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Hills (academic)
Sir John Robert Hills, (29 July 1954 – 21 December 2020) was a British academic, latterly professor of Social Policy at the London School of Economics. He acted as director of the ESRC Research Centre for the Analysis of Social Exclusion from 1997. His work focused on inequality, and the role of social policy over the life course. Education John Hills was educated at Nottingham High School and Abingdon School. At Abingdon he was Head of Dayboys and won the St Catherine's prize for Intellectual Initiative, the Smith Chemistry prize and Ingham Physics Prize, in addition to English and Mathematics prizes. Before going to Cambridge he conducted research at Euratom. He studied at the University of Cambridge for his undergraduate degree, and at the University of Birmingham for his master's degree (MSocSc Economics, 1980). Work Hills worked at the LSE from 1986 until his death in 2020, having previously held research posts at HM Treasury and the Institute for Fiscal Studies. His ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent Public Services Pensions Commission
The UK Chancellor Chancellor ( la, cancellarius) is a title of various official positions in the governments of many nations. The original chancellors were the of Roman courts of justice—ushers, who sat at the or lattice work screens of a basilica or law cou ... invited John Hutton to chair an independent commission on public service pension provision. This was intended to reduce the otherwise increasing cost of taxpayer-funded state pensions (as life expectancy increased) while ensuring adequate levels of retirement income. Recommendations made in the report *The Government should make clear its assessment of the role of public service pension schemes which should be to ensure adequate levels of retirement income for public service pensioners. *Public service employers take greater account of public service pensions when constructing remuneration packages and designing workforce strategies. *The Government should ensure that public service schemes, along with a full state ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pensions In The United Kingdom
Pensions in the United Kingdom, whereby United Kingdom tax payers have some of their wages deducted to save for retirement, can be categorised into three major divisions - state, occupational and personal pensions. The state pension is based on years worked, with a 35-year work history yielding a pension of £185.15 per week. It is linked to wage and price increases. Most employees and the self-employed are also enrolled in employer-subsidised and tax-efficient occupational and personal pensions which supplement this basic state-provided pension. Historically, the "Old Age Pension" was introduced in 1909 in the United Kingdom (which included all of Ireland at that time). Following the passage of the Old-Age Pensions Act 1908 a pension of 5 shillings per week (25p, equivalent, using the Consumer Price Index, to £ in present-day terms), or 7s.6d per week (equivalent to £/week today) for a married couple, was payable to persons with an income below £21 per annum (equivalent to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Non-departmental Public Bodies Of The United Kingdom Government
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Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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