Parliament & Pensions

The promotion of occupational pension schemes and ensuring they operate in a favourable political and taxation environment is of vital importance to millions of members of pension schemes. To further this aim, the Association of Consulting Actuaries (ACA) was instrumental in promoting the idea of and now provides the technical and administrative support to The All-Party Parliamentary Group on Occupational Pensions.

The Group was founded in 1992 and is a registered group open to all Members of the House and has the active support of over 50 MPs.

Membership of the Group is free of charge to all Members.

The Group held its Annual Lunch on Wednesday 28 March 2007, when Pensions Reform Minister, James Purnell MP, addressed the Group. Ian Farr, Chairman of the ACA, also launched the Association's shared risk schemes initiative at the lunch.

During 2007, there was a briefing to the Group on developments at the Pension Protection Fund by its Chief Executive, Partha Dasgupta, and a briefing on the work of the Pensions Regulator by Chief Executive, Tony Hobman.

The Group's terms of reference

The Parliamentary Group’s Aims and Terms of Reference agreed at its inaugural meeting are:

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The development of a pension climate in the UK, by raising the level of public debate, that is conducive to greater individual and collective awareness of the importance of adequate occupational pension provision in retirement.

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The development of an improved understanding of occupational pension issues in Westminster and Whitehall so as to encourage a legislative framework for occupational schemes that is simple, fair and supportive of improved pension provision in retirement.

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To encourage greater recognition of the importance of pension scheme investments to the economy as a whole and to monitor the impact of UK economic and taxation policy on pension fund investment trends.

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To monitor developments in Europe and beyond so as to ensure Members of Parliament are appraised of trends in pension provision and legislation that are of relevance to the UK.