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John Fielding,
CEO
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Opra's latest annual report confirms that the organisation has the ability to deal successfully with a substantial workload and perform a key role in the pensions industry as an effective regulator and arbiter of best practice.
Wendy is a member of the Pensions Research Accounting Group Executive, the Board of Opra and has recently represented the Board on the DWP Consultation Panel on the Replacement of the MFR.
Opra will regulate the requirement for employers to offer access to stakeholder pension schemes.
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Brian Mengel,
Civil Servant
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Opra - the Occupational Pensions Regulatory Authority - was set up by Parliament under the Pensions Act 1995 to help make sure that occupational pension schemes are run safely and properly.
Opra’s annual report for the period from 1 April 1997 to 31 March 1998 has been laid before Parliament today in accordance with the requirements of section 2 of the Pensions Act 1995.
Any person described in paragraph 4 above who makes a voluntary report to Opra is given protection under the Pensions Act from any breach of duty of confidentiality or other contractual obligation to their clients caused through giving information to Opra.
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Keith Tennant,
Factory Worker
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Opra also runs the Pension Schemes Registry in Newcastle upon Tyne.
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Craig Leveaux,
Blogger
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Opra looks into and can take action where there is carelessness or negligence that could put pension schemes at risk.
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Thomas Owens,
Police Officer
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In addition, Opra may bring prosecutions through the courts where we believe that criminal offences under the Pensions Act and associated legislation have been committed.
Opra investigates and can take action where there are breaches of the Pensions Act.
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Bob Greenberg,
Congressional Candidate
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Opra has the power to investigate schemes considered to be at risk, and can prohibit or disqualify trustees and impose fines on wrongdoers.
Pensions Week had quoted Opra as saying that it did not wish late payments which had arisen as a result of administrative failings for which members had not suffered any loss to be reported.
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