National Pensions Office meet with Employer Pension Plan Administrators
- Operational issues in relation to reporting, and administering of programmes such as the Housing Withdrawal Programme and Retirement Savings Arrangements;
- Delinquency reporting, and joint efforts that are needed to deal with employers who are in arrears with pensions Contributions. Approaches discussed included: inter-agency cooperation and data sharing amongst counterpart regulators, the leveraging of technology, working with employers to arrange and monitor payment plans, and enforcement through the Courts;
- Policy matters which required clarification and project plans to implement;
- Pensions supervision issues surrounding annual audits and other governance imperatives, to ensure the pension funds are protected and enhanced;
- Public awareness, education, and training of employers, employees, and the general public, particularly on the importance of retirement planning so as to maximize the amount of income replacement for retirees.
Published July 8, 2014
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