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Saving face on plundered funds puts pensioners' safety last

Article Abstract:

The British government may be sued by employees of insolvent companies for any shortfall in their pension schemes under European Council Directive (EEC) 80/987. This directive requires members of the European Community (EC) to ensure that employees receive their due wages and pension entitlements in the event of their employers' insolvency. Aside from enforcing and making this law known to the public, the government must take other steps in protecting occupational pension arrangements, as other EC member states are doing. Germany, for instance, has a Pensions Security Fund to guarantee that all pension obligations are met. The measure that the British government can take is the creation of an insurance fund by collecting more National Insurance Contributions. Another measure that can be taken is to oblige all occupational pension schemes to be 'fully funded.'

Pension, health, and welfare funds, Laws, regulations and rules, Pensions, Pension funds, Protection and preservation

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The where? guide

Article Abstract:

Complaints involving financial loss can be filed through a myriad of procedures. These procedures range from compensation schemes covering lossess due to varied causes, such as fraud, negligence and failure of financial institutions, to informal awards offered by arbitrators. In the course of filing a complaint, taking some basic precautions is critical. To seek good advice from unbiased, independent and qualified advisers is among the most beneficial of such precautions. A comprehensive guide provides details of the complaints and compensation procedures for the investment and banking sectors.

United Kingdom, Management, Cover Story, Compensation (Law), Fraud investigation, Complaints (Criminal procedure)

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