Areas of work undertaken by the Pensions Board

Member Options Working Party
The Member Options Working Party was set up by the Current Issues Committee of the Pensions Board in 2006 to review issues arising from actuarial advice in connection with setting terms for cash commutation and other member options. The Working Party has now concluded its work and its report, containing a number of recommendations, has been accepted by the Board.

Pensions Protocol
The Pensions Protocol (actuaries and auditors' interprofessional communication - pensions) is designed to link and support the technical standards for actuaries and auditors issued by the Faculty and Institute of Actuaries and the Auditing Practices Board.

Section 67 of Pensions Act 1995
Herbert Smith, Solicitors, were asked to advise the Faculty and Institute of Actuaries on several issues relating to Section 67 of the Pensions Act 1995 ('section 67'), in order to assist members on its application in various circumstances

Security for occupational pensions and the MFR
MFR valuations - money purchase benefits

Some common questions on pensions
Papers prepared by the Public Relations Committee of the Pensions Board and directed primarily at members of the media.

Statutory money purchase illustrations
Technical Memorandum (TM1) specifies the assumptions to be used to illustrate the amount of pension that might be payable when a member retires, in terms of today's prices. The illustrations apply to a wide range of individual and occupational pension arrangements (including personal pensions, money purchase pension schemes and stakeholder pensions).

Transfer values (EXD54/GN11)
The way forward on EXD54/GN11 has been decided. The DWP has agreed that the time is right for the Government to consult on the principles in legislation that should underpin the calculation of transfer values.