Related Research Articles
A pension is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular installments for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment prior to retirement.
Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices, case law.
The Government Actuary’s Department (GAD) is a department of the Government of the United Kingdom responsible for providing actuarial advice to public sector clients. Its mission is to support effective decision-making and robust reporting within government as the first choice provider of actuarial and specialist analysis, advice and assurance.
The Federal Social Court (Bundessozialgericht) is the German federal court of appeals for social security cases, mainly cases concerning the public health insurance, long-term care insurance, pension insurance and occupational accident insurance schemes. Trial courts for these cases are the Sozialgerichte. Appeals against decisions of these courts are heard by the Landessozialgerichte, before the cases may wind up at the Bundessozialgericht.
Pensions in the United Kingdom, whereby United Kingdom residents have some of their wages deducted to save for retirement, can be categorised into three major divisions with seven sub-divisions, covering both defined benefit and defined contribution pensions:
German Statutory Accident Insurance or worker's compensation is among the oldest branches of German social insurance. Occupational accident insurance was established in Germany by statute in 1884. It is now a national, compulsory program that insures workers for injuries or illness incurred through their employment, or the commute to or from their employment. Wage earners, apprentices, family helpers and students including children in kindergarten are covered by this program. Almost all self-employed persons can voluntarily become insured. The German worker's compensation laws were the first of their kind.
The European Insurance and Occupational Pensions Authority (EIOPA) is a European Union financial regulatory institution that replaced the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS). It is established under EU Regulation 1094/2010.
The Committee of European Securities Regulators (CESR) was an independent committee of European Securities regulators in the Lamfalussy process established by the European Commission on June 6, 2001.
The Committee of European Banking Supervisors (CEBS) was an independent advisory group on banking supervision in the European Union (EU). Established by the European Commission in 2004 by Decision 2004/5/EC, and its charter revised on 23 January 2009, it was composed of senior representatives of bank supervisory authorities and central banks of the European Union. On 1 January 2011, this committee was succeeded by the European Banking Authority (EBA), which took over all existing and ongoing tasks and responsibilities of the Committee of European Banking Supervisors (CEBS). The European Banking Authority was established by Regulation (EC) No. 1093/2010 of the European Parliament and of the Council of 24 November 2010.
The International Association of Insurance Supervisors (IAIS) is a voluntary membership-driven standards-setting organization of insurance supervisors and regulators from over 190 jurisdictions in more than 140 countries. Founded in 1994, it seeks to "supervise the insurance industry in order to develop and maintain fair, safe, and stable insurance markets". In addition to its members, approximately 135 observers representing international institutions, professional associations and insurance and reinsurance companies, as well as consultants and other professionals participate in IAIS activities.
Paritarian means jointly managed on an equal basis.
Pensions in Norway fall into three major divisions; State Pensions, Occupational Pensions and Individual or personal Pensions.
The Pensions Act 2008 is an Act of the Parliament of the United Kingdom. The principal change brought about by the Act is that all workers will have to opt out of an occupational pension plan of their employer, rather than opt in. A second change is the creation of a National Employment Savings Trust, a public pension provider for those who do not have an occupational pensions, which will function as a low-fee pension scheme in competition with existing funds.
The European System of Financial Supervision (ESFS) is the framework for financial supervision in the European Union that has been in operation since 2011. The system consists of the European Supervisory Authorities (ESAs), the European Systemic Risk Board, the Joint Committee of the European Supervisory Authorities, and the national supervisory authorities of EU member states. It was proposed by the European Commission in 2009 in response to the financial crisis of 2007–08.
The European Systemic Risk Board was established on 16 December 2010 in response to the ongoing financial crisis. It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contribute to the prevention or mitigation of systemic risks to financial stability in the EU. It shall contribute to the smooth functioning of the internal market and thereby ensure a sustainable contribution of the financial sector to economic growth.
Pensions in Germany are based on a “three pillar system”.
The Social Security Institution is the governing authority of the Turkish social security system. It was established by the Social Security Institution Law No:5502, which was published in the Official Gazette No: 26173 on June 20, 2006. This brought five different retirement systems that affected civil servants, contractual paid workers, agricultural paid workers, and self-employed workers into a single retirement system offering equal actuarial rights and obligations.
Compared to other liberal democracies, Ireland's pension policies have average coverage, which includes 78 percent of the workforce, and it offers different types of pensions for employees to choose from. The Irish pension system is designed as a pay-as-you-go program and is based on both public and private pension programs.
Gabriel Rodrigo Ribeiro Tavares Bernardino is a Portuguese mathematician who has been serving as the Chairman of the European Insurance and Occupational Pensions Authority (EIOPA) since 2011.
References
- ↑ "European Insurance and Pensions Committee - EIOPC". Archived from the original on October 19, 2008.
 | This Europe-related article is a stub. You can help Wikipedia by expanding it. |