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Following the death of Robert Maxwell, it became clear that he had embezzled a large amount of money from the pension fund of Mirror Group Newspapers. As a result of this, a review was established to look into ways that the running of pension schemes could be improved. The end result was the Pensions Act 1995.
In the 1980s and 1990s a series of scandals and corporate collapses led to losses to occupational pension funds, and brought public pressure for changes to pension regulation. In particular, Robert Maxwell, the proprietor of the Mirror News Group had suddenly died and it was then revealed that he had been stealing millions of pounds from his ...
Ian Robert Maxwell MC (born Ján Ludvík Hyman Binyamin Hoch; 10 June 1923 – 5 November 1991) was a Czechoslovak-born British media proprietor, politician and fraudster. [ 1 ] [ 2 ] After escaping the Nazi occupation of his native country, Maxwell joined the Czechoslovak Army in exile during World War II and was decorated after active service ...
Ian Maxwell was Robert’s son and a director of Bishopsgate Investment Management Ltd, which was meant to be safeguarding the company pension plans. He had signed share transfers from Bishopsgate to Maxwell Group plc for no consideration. The shares had been held on trust for a number of pension schemes.
that “they” should manage our rights, the way we hire a professional to do our taxes; “they” should run the government, create policy, worry about whether democracy is up and running.
After Maxwell fell off his luxury yacht and died, it was revealed that he had taken his employees' pension money. Bishopsgate Investment Management Ltd. was the trustee of pension moneys belonging to the employees of Maxwell Communications Corporation plc. In breach of trust, Maxwell paid the pension money into the overdrawn accounts of MCC.
Americans who receive pensions have a complicated relationship with the Social Security system due to a couple of federal rules designed to reduce excessive Social Security payouts: the Windfall...
The proposed legislation, known as the Social Security Fairness Act, would erase the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which have long been criticized ...