Catalogue description Occupational Pensions Regulatory Authority: Board papers and minutes.

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Details of SB 1
Reference: SB 1
Title: Occupational Pensions Regulatory Authority: Board papers and minutes.
Description:

Minutes, agendas and papers of the Occupational Pensions Regulatory Authority (OPRA) Board. The minutes document how the Board oversaw the strategic direction of the authority and how it made key decisions on policy.
Date: 1997-2005
Arrangement:

Minutes, agendas and papers are filed in date order.
Legal status: Public Record(s)
Language: English
Creator:

Occupational Pensions Regulatory Authority, 1997-2005
Physical description: files and papers
Access conditions: Records not yet transferred
Immediate source of acquisition:

The Pensions Regulator
Custodial history: Pensions Regulator, from 2005.
Accumulation dates: 1997-2004
Selection and destruction information: This series meets TNA's Acquisition Policy theme 2.2.1.5 Formulation and delivery of social policies. The selection is in line with OSP 30 Board and Committee records.
Accruals: Series is not accruing
Administrative / biographical background:

The Board of the Occupational Pensions Regulatory Authority (OPRA) was established under Section 1 and Schedule 1 of the Pensions Act 1995. It was dissolved in 2004 by the Pensions Act 2004. The board was responsible for the governance of the authority, making decisions on the strategic direction and policy of the authority, and making formal determinations relating to pension schemes that may have breached the requirements of the Pensions Act 1995 or associated regulations.

The OPRA Board included the Chairman (a part-time appointment) and nine other part-time members appointed by the Secretary of State after consultation with various representative bodies. Their meetings had either strategic or judicial functions, and took the following forms:

  • the whole Board would meet to provide the strategic direction for OPRA's work;
  • groups of Board members would meet to adjudicate on breaches with a view to determining whether a penalty should be applied to the trustees or employer: and
  • groups of Board members would meet to hear appeals against the Board's determinations in such cases. Different members hear the appeal from those who made the original determination.

The committees that reported to the Board included: Audit; Grants, Remuneration, Determinations; Information Technology; Risk Regulation.

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