UK - Minister for Pensions Ian McCartney has appointed Brian Davis as independent reviewer for the quinquennial review of the Occupational Pensions Regulatory Authority (Opra).
The former chief executive of the Nationwide Building Society will undertake a detailed examination of Opra's entire functions and draw on the views of a wide range of stakeholders.
Commenting on the appointment, McCartney said: The review will take a root and branch look at all Opra's functions and will draw on the views and comments of a wide range of stakeholders.
“It will also take account of the findings of the Pickering Review, which is looking at ways of simplifying the legislation that underpins the private pensions regulatory system.”
OPRA started operating in April 1997 as an executive non-departmental public body. It is the regulator for private pension schemes in the UK and the registrar for the private pension schemes register.
Davis will be supported by a review team of civil servants from the Department of Work and Pensions and an expert steering group which will consist of representatives of major professional organisations working in pensions, government officials and representatives from consumer organisations.
A public consultation on the Opra review will be announced shortly.
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