Review of the Occupational Pensions Regulatory Authority (Opra)

13 May 2002

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The functions, role and management of the Occupational Pensions Regulatory Authority (Opra) are being extensively examined and reviewed. Pensions Minister, Ian McCartney said:

'It is essential that the interests of members of pension schemes are safeguarded by ensuring that the schemes are run properly. Opra's work is vital to achieving the Government's aim of providing security and independence in retirement for today's and tomorrow's pensioners.

'We have recently announced the appointment of Dr Brian Davis to lead a performance Review of Opra. The Review will ensure that the services currently provided by Opra are delivered in a way that best meets the needs of those it serves and that it is managed in the most effective way. It will also consider what additional, proactive, safeguards should be introduced.

'I have asked Dr Davis to consult as widely as possible in the course of the Review, and the document I am publishing today is the start of that process. I would encourage everyone with an interest in, or affected by, Opra's work to respond to the consultation document.'

The Review will be comprehensive and vigorous. Its aims will be to:

Examine Opra's past performance in relation to its aims and objectives;

Consider whether Opra's aims and objectives are the right ones for delivering wider Government and DWP objectives;

Consider how the pensions regulatory services provided by Opra can best be delivered;

Identify and make recommendations on the scope for enhancing and improving the delivery of pensions regulation.

The Review will take full account of any changes to pension regulation that may arise out of the Simplification Review of current pensions legislation being carried out by Alan Pickering.

Opra Quinquennial Review – Consultation Paper

© Department for Work and Pensions