UK – The UK government has announced the replacement of pensions ombudsman Julian Farrand with the appointment of Sir Bryan Carsberg as chairman of the Pensions Compensation Board (PCB) from September 1.

Carsberg is a chartered accountant and an honorary fellow of the Institute of Actuaries and had just completed a term as secretary general of the International Accounting Standards Committee.
A former director general of telephone regulator Oftel, he was also a director general of the Office of Fair Trading.

The PCB’s role is to decide under the terms of the 1995 Pensions Act, whether a scheme’s sponsoring employer is insolvent and if the value of a scheme’s assets have been reduced as a result of dishonesty.





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