Assignment Brief Template
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Faculty of Business and Law
School of Economics, Finance & Accounting
Assignment Brief
Module Title:
Financial Services
Assignment Number:
1
Module Code:
251FIN
Assignment Title:
Developments in the UK’s Pension Scheme
Assignment Weighting:
25% of overall module grade
Submission Date/Time:
29/03/2018 18:00:00
Submission
Time and Place:
Online submission through Turnitin ONLY
Assessment Information
This assignment is designed to assess learning outcomes:
1. Discuss the key features of the developments in the UK’s pension system.
This assignment is an individual assignment.
ASSIGNMENT REMIT
Reforms to the UK pension scheme implemented in 2015 provided pension savers with significantly greater freedom of choice. In particular, retiring defined contribution (DC) pension scheme members are no longer forced to buy an annuity which is currently quoted at low rates.
You are required to:
(i) Provide an account of the development of the market for pensions in the UK over the past four decades, emphasising the dominant types of pensions, the key providers, previous mis-selling scandals and the existing regulatory regimes for the pension industry
(ii) Assess the various benefits and risks of the new freedom for pension savers and scheme providers
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(iii) Describe the behaviours which may be evolving among DC retirees with the view to identifying the more popular actions undertaken by members who are taking advantage of their greater pension freedom
(iv) Recommend changes in the investment planning of DC schemes and traditional lifestyle strategies to ensure that pension savers utilise their pension freedom in a manner that best suits their individual circumstances as well as making their post-retirement savings last until they die.
Criteria for Assessment
In completing this assignment, students must:
1. Provide an overview of the UK pension schemes, key providers, misspelling scandals and regulatory bodies
2. Explore the principal benefits and risks arising from the recent reforms on pension in the UK
3. Discuss the more popular choices among the DC pension retirees in the wake of their greater pension freedom
4. Conclude with an assessment of how the UK’s pension system is likely to development in the light of the greater pension freedom
5. Provide advice on how DC retirees might make use of their post-retirement savings to ensure that it lasts until they die
6. Include ‘academic journal articles’ to support your discussion
Word Count
The word count is 1,500
There will be a penalty of a deduction of 10% of the mark (after internal moderation) for work exceeding the word limit by 10% or more.
The word limit includes quotations, but excludes the bibliography.
How to submit your assessment
The assessment must be submitted by 18.00:00 on 29/03/2018. No paper copies are required. You can access the submission link through the module web.
• Your coursework will be given a zero mark if you do not submit a copy through Turnitin. Please take care to ensure that you have fully submitted your work.
• All work submitted after the submission deadline without a valid and approved reason (see below) will be given a mark of zero.
• Extensions of up to two calendar weeks can only be given for genuine “force majeure” and medical reasons, not for bad planning of your time. Please note that theft, loss, or failure to
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keep a back-up file, are not valid reasons. The extension must be applied for on or before the submission date. You can apply for an extension by submitting an Examination/ Coursework Deferral/Extension Application Form. Application Forms along with the supporting evidence should go to the relevant Student Support Office. For a longer delay in submission a student may apply for a deferral.
• Students MUST keep a copy and/or an electronic file of their assignment.
• Checks will be made on your work using anti-plagiarism software and approved plagiarism checking websites.
GUIDELINES AND BACKGROUND TO THIS ASSIGNMENT
Plagiarism
As part of your study you will be involved in carrying out research and using this when writing up your coursework. It is important that you correctly acknowledge someone else’s writing, thoughts or ideas and that you do not attempt to pass this off as your own work. Doing so is known as plagiarism. It is not acceptable to copy from another source without acknowledging that it is someone else’s writing or thinking. This includes using paraphrasing as well as direct quotations. You are expected to correctly cite and reference the works of others. The Centre for Academic Writing provides documents to help you get this right. If you are unsure, please visit www.coventry.ac.uk/caw. You can also check your understanding of academic conduct by completing the Good Academic Practice quiz available on Moodle.
Moodle includes a plagiarism detection system and assessors are experienced enough to recognise plagiarism when it occurs. Copying another student’s work, using previous work of your own or copying large sections from a book or the internet are examples of plagiarism and carry serious consequences. Please familiarise yourself with the CU Harvard Reference Style (on Moodle) and use it correctly to avoid a case of plagiarism or cheating being brought. Again, if you are unsure, please contact the Centre for Academic Writing, your Academic Personal Tutor or a member of the course team.
Return of Marked Work
You can expect to have marked work returned to you within 15 working days for level 1 and 2, 10 working days for level 3 and M level). If for any reason there is a delay you will be kept informed. Marks and feedback will be provided online/in class/face to face. Marks will have been internally moderated only, and will therefore be provisional; your mark will be formally agreed later in the year once the external examiner has completed his / her review.
