Fraud Compensation Fund and Risk mitigation: Difference between pages

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(FCF).
The use of techniques to reduce the likelihood or the potential size of adverse effects on the organisation. (But without avoiding or transferring the risk entirely.)


''UK Pensions.''
For example, requiring collateral from borrowers in order to mitigate credit risk.


The FCF was established under  UK pensions legislation to provide compensation to occupational pension schemes, with insolvent employers, that suffer a loss attributable to an offence involving dishonesty.


It applies to most defined benefit and defined contribution occupational pension schemes, however, it does not apply to state retirement pensions. 
== See also ==
 
* [[Collateral]]
 
* [[Credit risk]]
The FCF is a statutory fund run by the Board of the Pension Protection Fund and is funded from the Fraud Compensation Levy raised on eligible pension schemes.
* [[First line of defence]]
 
It replaced the former Pensions Compensation Board, which undertook a similar role. 


 
[[Category:Financial_risk_management]]
== See also ==
[[Category:Risk_frameworks]]
* [[FCF]]
* [[Fraud]]
* [[Occupational pension scheme]]
* [[Pension Protection Fund]]
* [[Pensions Compensation Board]]

Revision as of 09:42, 5 August 2015

The use of techniques to reduce the likelihood or the potential size of adverse effects on the organisation. (But without avoiding or transferring the risk entirely.)

For example, requiring collateral from borrowers in order to mitigate credit risk.


See also

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