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Guidance Notes adopted by BAS
Status as at 6 April 2007
On 19 May 2006 many of the Actuarial Profession Guidance Notes were adopted by the Board for Actuarial Standards. Others have been adopted subsequently. A few Guidance Notes are still retained by the profession and can be found here.
| GN1 | The prudential supervision in the UK of long-term insurance business Version 6.2 (effective 31.12.04) Adopted by BAS on 19 May 2006 |
| GN2 | Financial condition reports Version 1.1 (effective 30.12.02) Adopted by BAS on 19 May 2006 |
| GN3 | Retirement benefit schemes - contracting-out certificates for schemes where wind-up commenced before 6 April 1997 Version 3.4 (effective 13.01.03) Adopted by BAS on 19 May 2006 |
| GN4 | Insolvency of employers: safeguard of pension scheme contributions Version 2.4 (effective 15.12.03) Adopted by BAS on 19 May 2006 |
| GN5 | The prudential supervision outside the UK of long-term insurance business Retained by Profession |
| GN6 | No longer current |
| GN7 | The role of actuaries in relation to financial statements of insurers and insurance groups writing long-term business and their relationship with auditors Version 3.1 (effective 31.12.04) Adopted by BAS on 19 May 2006 |
| GN8 | Additional guidance on valuation of long-term insurance business Version 7.1 (effective 31.12.04) Adopted by BAS on 19 May 2006 |
| GN9 | Funding defined benefits – presentation of actuarial advice Version 8.0 (effective 30.12.05) Adopted by BAS on 19 May 2006 |
| GN10 | Valuation of reversions and life interests Version 3.1 (effective 01.03.93) Adopted by BAS on 19 May 2006 |
| GN11 | Retirement benefit schemes - transfer values Version 9.2 (effective 30.12.05) Adopted by BAS on 6 April 2007 |
| GN12 | General insurance business: actuarial reports Version 3.0 (effective 01.09.99) Adopted by BAS on 19 May 2006 Version 4.0 (effective 01.06.06) Adopted by BAS on 01 June 2006 |
| GN13 | Actuarial statements required in connection with the US Statements of Financial Accounting Standards No. 87, No. 88 and No. 132 (FAS 87, 88 and 132) Version 3.3 (effective 01.06.04) Adopted by BAS on 19 May 2006 |
| GN14 | No longer current |
| GN15 | No longer current |
| GN16 | Retirement benefit schemes - transfers without consent Version 3.1 (effective 29.11.05) Adopted by BAS on 19 May 2006 |
| GN17 | Accounting for pension costs under Statement of Standard Accounting Practice No. 24 Version 1.0 (effective 01.05.91) Adopted by BAS on 19 May 2006 |
| GN18 | Actuarial reporting for UK general insurance companies writing US regulated business Version 2.1 (effective 01.12.02) Adopted by BAS on 19 May 2006 |
| GN19 | Retirement benefit schemes - winding-up and scheme asset deficiency Version 4.7 (effective 02.09.05) Adopted by BAS on 6 April 2007 |
| GN20 | Actuarial reporting under the Lloyd's valuation of liabilities rules Version 7.0 (effective 01.04.06) Adopted by BAS on 19 May 2006 |
| GN21 | Post-retirement medical plans Version 2.0 (effective 01.04.04) Adopted by BAS on 19 May 2006 |
| GN22 | Disclosure - FSA rules Version 2.2 (effective 31.12.04) Adopted by BAS on 19 May 2006 |
| GN23 | Life insurance company take-overs Version 1.1 (effective 01.01.98) Adopted by BAS on 19 May 2006 |
| GN24 | The actuary as expert witness Retained by the Profession |
| GN25 | No longer current |
| GN26 | Pension fund terminology Version 2.1 (effective 01.03.01) Adopted by BAS on 19 May 2006 |
| GN27 | Retirement benefit schemes - Minimum Funding Requirement Retained by the Profession |
| GN28 | Retirement benefit schemes - adequacy of benefits for contracting-out Version 2.1 (effective 29.07.06) Adopted by BAS on 6 April 2007 |
| GN29 | Occupational pension schemes - advisers to the trustees or a participating employer Retained by the Profession |
| GN30 | Compensation for professional shortcomings Retained by the Profession |
| GN31 | No longer current |
| GN32 | No longer current |
| GN33 | Actuarial reporting for Lloyd's Syndicates writing US business Version 4.0 (effective 01.04.06) Adopted by BAS on 19 May 2006 |
| GN34 | Illustration of defined contribution pension scheme benefits Version 1.1 (effective 13.01.03) Adopted by BAS on 19 May 2006 |
| GN35 | Investment-related business activities Retained by Profession |
| GN36 | Accounting for retirement benefits under Financial Reporting Standard 17 Version 1.0 (effective 01.04.02) Adopted by BAS on 19 May 2006 |
| GN37 | The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 Retained by Profession |
| GN38 | Pre-paid funeral plans Version 1.0 (effective 01.09.03) Adopted by BAS on 19 May 2006 |
| GN39 | General responsibilities of and relationships between actuarial function holders, with-profits actuaries, appropriate actuaries, and reviewing actuaries of UK life insurance firms and friendly societies Version 2.1 (effective 01.02.06) Adopted by BAS on 19 May 2006 |
| GN40 | The role of the actuarial function holder Version 2.0 (effective 01.02.06) Adopted by BAS on 19 May 2006 |
| GN41 | The role of the with-profits actuary Version 1.2 (effective 30.06.05) Adopted by BAS on 19 May 2006 Version 2.0 (effective 01.06.06) Adopted by BAS on 01 June 2006 |
| GN42 | The reviewing actuary Version 1.0 (effective 31.12.04) Adopted by BAS on 19 May 2006 Version 2.0 (effective 01.06.06) Adopted by BAS on 01 June 2006 |
| GN43 | The role of the appropriate actuary Version 1.0 (effective 31.12.04) Adopted by BAS on 19 May 2006 Version 2.0 (effective 01.06.06) Adopted by BAS 01 June 2006 |
| GN44 | Mathematical reserves and resilience capital requirement Version 2.0 (effective 31.12.05) Adopted by BAS on 19 May 2006 |
| GN45 | Determining the with-profits insurance capital component Version 2.0 (effective 31.12.05) Adopted by BAS on 19 May 2006 |
| GN46 | Individual capital assessment Version 1.1 (effective 31.12.04) Adopted by BAS on 19 May 2006 Version 2.0 (effective 31.10.06) Adopted by BAS on 31 October 2006 |
| GN47 | Stochastic modelling for life insurance reserving and capital assessment Version 1.1 (effective 31.12.04) Adopted by BAS on 19 May 2006 Version 2.0 (effective 31.10.06) Adopted by BAS on 31 October 2006 |
| GN48 | Compliance review: pensions Retained by Profession |
| GN49 | Occupational pension schemes - scheme funding matters on which advice of actuary must be obtained Version 1.0 (effective 30.12.04) Adopted by BAS on 06 April 2007 |
| GN50 | General insurance principles and practice Version 1.0 (effective 01.04.06) Adopted by BAS on 19 May 2006 |
| GN51 | Retirement benefit schemes - modification of subsisting rights without consent Version 1.1 (effective 06.11.06) Adopted by BAS on 6 April 2007 |
Although not a guidance note: Technical Memorandum No 1: Statutory Money Purchase Illustrations Version 1.2 (effective 01.11.06). Adopted by BAS on 6 April 2007.
Page updated: 24 September 2008
Contact: Web editor
Contact: Web editor