An editor has performed a search and found that sufficient sources exist to establish the subject's notability.(December 2024) |
| Formation | 2002 |
|---|---|
Parent organization | Department for Communities |
| Website | https://nilgosc.org.uk/ |
The Northern Ireland Local Government Officers' Superannuation Committee (NILGOSC) is the largest public sector pension schemes. [1] [2] It is a defined benefit pension plan.
It is regulated by the Local Government Pension Scheme Regulations (Northern Ireland) 2002 and The Local Government Pension Scheme Regulations (Northern Ireland) 2014. [3] [4]
In 2016, NILGOSC committed £100,000,000 to M&G residential property. [5]
In 2017, Northern Trust was appointed to manage the scheme. [6]
In 2018 the pension fund was not criticised for 'not doing enough' with regard to climate change by environmentalists. [2]
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.
Pensions in the United Kingdom, whereby United Kingdom tax payers have some of their wages deducted to save for retirement, can be categorised into three major divisions - state, occupational and personal pensions.
Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement. It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement. Employers make compulsory payments to these funds at a proportion of their employee's wages. From July 2024, the mandatory minimum "guarantee" contribution is 11.5%, rising to 12% from 2025. The superannuation guarantee was introduced by the Hawke government to promote self-funded retirement savings, reducing reliance on a publicly funded pension system. Legislation to support the introduction of the superannuation guarantee was passed by the Keating Government in 1992.
Shareholders in the United Kingdom are people and organisations who buy shares in UK companies. In large companies, such as those on the FTSE100, shareholders are overwhelmingly large institutional investors, such as pension funds, insurance companies, mutual funds or similar foreign organisations. UK shareholders have the most favourable set of rights in the world in their ability to control directors of corporations. UK company law gives shareholders the ability to,
A tax transparent fund (TTF) - also known as an authorised contractual scheme fund - is the proposed authorised collective investment scheme structure in the United Kingdom once the UK Finance Bill 2012 becomes an act and when the Financial Services and Markets Act 2000 and the Corporation Tax Act 2010 are amended, sometime mid-2012. TTFs will then have the option to be based in the UK rather than in competing European domiciles. Both Luxembourg and Ireland have already introduced such structures, formally known as the Fond commun de placement (FCP) and the Common contractual fund (CCF).