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Goode Report
{{Short description, Government issued inquiry ''Pension Law Reform'' (1993) Cm 2342, also known as the Goode Report after its leading author, Roy Goode, was a UK government commissioned inquiry into the state of pensions in the United Kingdom, which ultimately led to a set of statutory reforms in the Pensions Act 1995. Background A series of scandals and corporate collapses in the late 1980s and early 1990s had led to losses to occupational pension funds, and brought public pressure for changes to pension regulation. In particular, Robert Maxwell, the proprietor of the Mirror News Group had suddenly died and it was then revealed that he had been stealing millions of pounds from his employees' pension schemes. See also *UK company law *UK labour law United Kingdom labour law regulates the relations between workers, employers and trade unions. People at work in the UK can rely upon a minimum charter of employment rights, which are found in Acts of Parliament, Regulations, common l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roy Goode
Sir Royston Miles "Roy" Goode (born 6 April 1933) is an academic commercial lawyer in the United Kingdom. He founded the Centre for Commercial Law Studies at Queen Mary, University of London. He was awarded the OBE in 1972 followed by the CBE in 1994 before being knighted for services to academic law in 2000. Education and early life He was educated at Highgate School in North London,Highgate School Register 7th Edn 1833–1988, Ed. Patrick Hughes & Ian F Davies 1989 and obtained his law degree by external study through the University of London External Programme in 1954. He completed the LLD at London in 1976 and the DCL at the University of Oxford in 2005. Career He was admitted as a solicitor in 1955; he was later called to the Bar at Inner Temple in 1988. Goode spent 17 years in private practice as a solicitor before turning to academia. While in practice, he wrote a series of legal textbooks. He began by writing a text on hire purchase as nothing had been written o ... [...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] |
Pensions Act 1995
The Pensions Act 1995c 26 is a piece of United Kingdom legislation to improve the running of pension schemes. Background Following the death of Robert Maxwell, it became clear that he had embezzled a large amount of money from the pension fund of Mirror Group Newspapers. As a result of this, a review was established to look into ways that the running of pension schemes could be improved. The end result was the Pensions Act 1995. Overview The main features of the Act included: * The establishment of the Occupational Pensions Regulatory Authority * The Minimum Funding Requirement (MFR) to ensure that all pension schemes had a minimum amount of money * A compensation fund for pension schemes in the event of fraud * Protection for existing pension scheme benefits so that they could not be reduced in the future without member consent * A requirement for pension schemes to have member nominated trustees * Greater disclosure of information to members * The introduction of clear documen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Maxwell
Ian Robert Maxwell (born Ján LudvÃk Hyman Binyamin Hoch; 10 June 1923 – 5 November 1991) was a Czechoslovak-born British media proprietor, member of parliament (MP), suspected spy, and fraudster. Early in his life, Maxwell escaped from Nazi occupation in his native country, joined the Czechoslovak Army in exile during World War II and was decorated after active service in the British Army. In subsequent years he worked in publishing, building up Pergamon Press to a major academic publisher. After six years as a Labour MP during the 1960s, Maxwell again put all his energy into business, successively buying the British Printing Corporation, Mirror Group Newspapers and Macmillan Publishers, among other publishing companies. Maxwell led a flamboyant lifestyle, living in Headington Hill Hall in Oxford, from which he often flew in his helicopter, or sailing in his luxury yacht, the ''Lady Ghislaine''. He was litigious and often embroiled in controversy. In 1989, Maxwell had t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mirror News Group
A mirror or looking glass is an object that reflects an image. Light that bounces off a mirror will show an image of whatever is in front of it, when focused through the lens of the eye or a camera. Mirrors reverse the direction of the image in an equal yet opposite angle from which the light shines upon it. This allows the viewer to see themselves or objects behind them, or even objects that are at an angle from them but out of their field of view, such as around a corner. Natural mirrors have existed since prehistoric times, such as the surface of water, but people have been manufacturing mirrors out of a variety of materials for thousands of years, like stone, metals, and glass. In modern mirrors, metals like silver or aluminium are often used due to their high reflectivity, applied as a thin coating on glass because of its naturally smooth and very hard surface. A mirror is a wave reflector. Light consists of waves, and when light waves reflect from the flat surface of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Company Law
The United Kingdom company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth and as an international standard setter, UK law has always given people broad freedom to design the internal company rules, so long as the mandato ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Labour Law
United Kingdom labour law regulates the relations between workers, employers and trade unions. People at work in the UK can rely upon a minimum charter of employment rights, which are found in Acts of Parliament, Regulations, common law and equity (legal concept), equity. This includes the right to a minimum wage of £9.50 for over-23-year-olds from April 2022 under the National Minimum Wage Act 1998. The Working Time Regulations 1998 give the right to 28 days paid holidays, breaks from work, and attempt to limit long working hours. The Employment Rights Act 1996 gives the right to leave for child care, and the right to request flexible working patterns. The Pensions Act 2008 gives the right to be automatically enrolled in a basic occupational pension, whose funds must be protected according to the Pensions Act 1995. Workers must be able to vote for trustees of their occupational pensions under the Pensions Act 2004. In some enterprises, such as universities, staff can Codetermina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
