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Purnell launches review of workplace regulation

The Government has appointed Paul Thornton the current managing director of Gazelle Corporate Finance to lead an institutional review of the regulation of workplace pensions.
Pensions minister James Purnell announced the review at a NAPF seminar this week which will consider how the functions of organisations involved in the regulation and protection of workplace pensions will fit in with proposals for Personal Accounts.
Purnell said this will include the Pensions Regulator, the Pension Protection Fund and the FSA.
Thornton has previous experience as President of the Institute of Actuaries and a senior partner at Watson Wyatt.
The review will pass recommendations to ministers by the spring.
Purnell said: “As with our White Paper proposals, in taking forward the review, we want to encourage debate amongst the stakeholders involved and build a consensus on the best way forward.
Ensuring we have appropriate regulation and protection for all work based pensions – including personal accounts – means we need to think carefully about how the functions of the various institutions involved can best be arranged.”

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