Financial Services Industry
Industry: Email Alert RSS FeedNews: O'Brien urged to drive risk sharing.
Pensions Week, October, 2007
Byline: Hannah Williams
Leading actuaries are set to confront the government and push for a legislative overhaul to promote risk sharing.
The Association of Consulting Actuaries (ACA) will meet with Mike O'Brien, minister for pensions reform, this week, and will urge him to take firm steps to amend legislation to allow for a variety of hybrid risk strategies.
Ian Farr, chairman of the ACA, said: "We are seeing final salary closures all the time. How many more will be allowed to close before the government does something radical? [John] Hutton said he was prepared to be radical; let's see if Peter Hain and O'Brien will live up to that."
Farr is pushing for legislative changes, which would allow for strategies, such as conditionally...
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