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MFR to be replaced with new scheme

first_imgMFR to be replaced with new schemeOn 1 Apr 2001 in Personnel Today Related posts:No related photos. Comments are closed. The Myers Report on pension fund investment has recommended that the MFR,set up after the Maxwell pensions scandal to safeguard occupational pensionschemes, should be replaced. Instead, it proposes a long-term, scheme specificfunding standard, supported by a new framework of “transparency anddisclosure.” Although it is widely agreed that the MFR was due for review,there are concerns over the timetable for the new measures. Says GordonPollock, worldwide partner at employee benefits consultancy, William M Mercer.”Such delays will mean continued uncertainty, and employers will findthemselves in an impossible position as the MFR basis becomes increasingly outof date.” And the pensions team at Hammond Suddards Edge warns, “Pension schemes andemployers now face the prospect of regulatory upheaval that will rival the 1995Pensions Act in its scope and complexity.” Previous Article Next Articlelast_img read more

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