Support to the UK바카라 사이트檚 regulators
GAD supports UK regulators by helping them understand the pension costs of the companies they regulate. We provide data, analysis and evidenced based expertise.
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We provide support to the UK바카라 사이트檚 regulator by helping them understand the pension costs of the companies they regulate.
Economic regulators exist to protect consumers 바카라 사이트� the companies they regulate are utilities providers and service providers. The important role of the regulator is to ensure that customers are treated fairly.
Background
The 바카라 사이트 Actuary바카라 사이트檚 Department (GAD) works with economic regulators by engaging with the companies we regulate when it comes to their pension costs.
Examples of GAD바카라 사이트檚 work includes the support we provide to Ofgem and to the Civil Aviation Authority with our review of Heathrow Airport Limited바카라 사이트檚 .
Pensions complexity
With funded defined benefit pensions, traditional employers engage with trustee boards to agree appropriate pace of funding.
The role of trustees is to prioritise the security of the benefits. They tend to prefer cautious investments and greater requirements for cash from the sponsoring employer.
A regulator바카라 사이트檚 role is to set out expectations of efficient behaviours, which treat consumers fairly.
There is no one size fits all approach. Benchmarking against other, similar schemes can help support regulators바카라 사이트� decisions, and this is one approach GAD has adopted in our support to UK regulators. Our reviews typically explore:
- benefit design
- investment strategy
- funding strategy
- pensions policy
- the context of DB funding regulation
Many regulators have the power to set the price which is charged to consumers. Where charges are deemed to be excessive, they can restrict the level of pension costs due to be passed on.
The role of regulators includes a responsibility to operate fairly on behalf of customers and stakeholders.
With GAD바카라 사이트檚 partnership, regulators can form informed views, supported by data, analysis and evidenced based expertise.
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GAD바카라 사이트檚 view
One of GAD바카라 사이트檚 actuaries supporting UK regulators, Scott Madden, said: 바카라 사이트淚 found it fascinating to help our clients unpick the complexities of pensions and to learn about the relationships and dynamics between trustees and sponsoring employers.
바카라 사이트淲e also have a role in thought leadership in areas of regulatory pension policy in light of the substantial changes in the industry and market environment observed in the last couple of years.
바카라 사이트淭he UK바카라 사이트檚 regulators are experts in the complexity of regulating businesses. GAD바카라 사이트檚 support as pensions experts helps regulators reach robust conclusions on the nuanced and complex world of DB pensions. We find these projects fulfilling, as they allow our clients to cut through to solutions.바카라 사이트�