Document library
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- Author:
- Pensions Board\; Peter Tompkins
Draft Technical Memorandum 1 (TM1) : Statutory Illustrations of Money Purchase Benefits (SMPI). Version 1.0. Covering letter
The Pensions Board is pleased to have been invited by the Department of Social Security to help the Government to provide members of occupational, personal and stakeholder pension schemes with an annual illustration of their money purchase benefits in ... read more >>
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- Author:
- S J Head; D R Adkins; A J G Cairns; A J Corvesor; D O Cule; D J Exley; I S Johnson; J G Spain; A J Wise
- Source:
- British Actuarial Journal [BAJ] (2000) 6(1): 55-141
Pension fund valuations and market values
The traditional approach to United Kingdom pension fund valuations is to use an off-market approach to valuing assets and liabilities. This approach has been called into question for a number of reasons, such as changes to the taxation of U.K. share ... read more >>
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- Author:
- P M C Meredith; N P Horsfall; J M Harrison; K Kneller; J M Knight; R F Murphy
- Source:
- British Actuarial Journal [BAJ] (2000) 6(3): 547-619
Pensions and low inflation
This working party has considered the pensions implications of a prolonged period of low inflation. Experience in the United States of America suggests weaker correlation between equity and bond returns and greater overall volatility of returns. Without ... read more >>
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- Author:
- Pensions Board\; Mike Pomery
GN31: Actuaries to appropriate personal pension schemes in terms of the Pensions Act 1995. Version 1.1. Covering letter
The technical amendments made to Version 1.1 cover the following issues: The transfer of functions from the Contributions Agency and the Department of Health and Social Services for Northern Ireland to the Inland Revenue. Minor typographical amendments. ... read more >>
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GN3: Certain certificates for contracting-out. Version 3.3
This pensions Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN3 V3.3 B3.1 GN3: ... read more >>
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- Author:
- Pensions Board
GN 13: Actuarial statements required in connection with the Statements of Financial Accounting Standards no.87, no.88 and no.132 (FAS 87, 88 and 132) in the USA. Version 3.1
This pensions Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN13 V3.1 B13.1 GN13: ... read more >>
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- Author:
- Pensions Board\; Mike Pomery
GN3: Certain certificates for contracting-out. Version 3.2. Covering letter
Guidance Note 3 Version 3.2 was exposed to members simultaneously as a Fast Track Guidance Note and as an Exposure Draft in May 1999. It has now completed Due Process and is being issued as Version 3.3 which will be effective from 1 November 1999. Please ... read more >>
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- Author:
- Pensions Board\; Mike Pomery
GN13: Actuarial statements required in connection with the Statements of Financial Accounting Standards No. 87, 88 and 132 (FAS 87, 88 and 132) in the USA. Version 3.1. Covering letter
August, 1999 Dear Member GN13 ACTUARIAL STATEMENTS REQUIRED IN CONNECTION WITH THE STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS NO. 87, NO. 88 AND NO. 132 (FAS 87, 88 AND 132) IN THE USA. I attach GN13: Actuarial Statements required in connection with ... read more >>
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GN29: Occupational pension schemes - actuaries advising the trustees or a participating employer. Version 3.1
This pensions Guidance Note has been retained by the Actuarial Profession. MAP/GN29 V3.1 B29.1 GN29: Occupational Pension Schemes - Actuaries Advising the Trustees or a Participating Employer Classification Practice Standard Legislation or ... read more >>
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GN3: Certain certificates for contracting-out. Version 3.2
This pensions Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. Faculty and Institute of ... read more >>
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- Author:
- Pensions Board\; Mike Pomery
- Source:
- Scheme Actuary letter
GN28: Retirement Benefit Schemes - Adequacy of Benefits for Contracting-out on or after 6 April 1997
Occupational Pension Schemes which are contracted-out on a salary related basis are required to have a Reference Scheme Test certificate signed by a Scheme Actuary. It is important to note that in signing the certificate the Actuary must consider not only ... read more >>
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GN27: Retirement benefit schemes - Minimum Funding Requirement. Version 1.4
This pensions Guidance Note has been retained by the Actuarial Profession. MAP/GN27 V1.4 B27.1 GN 27: Retirement Benefit Schemes - Minimum Funding Requirement Classification Practice Standard Application An actuary to an occupational pension scheme ... read more >>
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- Author:
- Pensions Board\; Mike Pomery
GN29: Occupational pension schemes - actuaries advising the trustees or a participating employer. Version 3.1. Covering letter
I enclose version 3.1 of GN29. This is being issued following completion of Due Process. It is effective from 1 July 1999. No substantive comments were made on the Exposure Draft. Please reply to Staple Inn I enclose version 3.1 of GN29. This is being ... read more >>
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- Author:
- Pensions Board; Mike Pomery
- Source:
- Scheme Actuary letter
GN 19: Retirement Benefit Schemes - Winding up and Scheme Asset Deficiency
Revisions to GN27 effective from 15 June 1998 and 1 June 1999 can affect actuarial calculations under GN19 in some circumstances. In addition to deficiency calculations where the applicable time determines the appropriate version of GN27 to use, you should ... read more >>
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- Author:
- Pensions Board\; Mike Pomery
- Source:
- Scheme Actuary letter
Cash equivalent bases
The Board has been discussing the effect of improving mortality and lower inflationary expectations on cash equivalent bases. 28 April, 1999 To All Scheme Actuaries Dear Scheme Actuary Cash Equivalent Bases The Board has been discussing the effect of ... read more >>
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- Author:
- The Actuarial Profession
- Source:
- Exam papers and examiners' reports
Subject 304 - Pensions and other benefits. Exam papers and reports, 1999-2004
Subject 304 - Pensions and other benefits. Exam papers and reports, 1999-2004 Faculty of Actuaries Institute of Actuaries EXAMINATIONS April 1999 Subject 304 — Pensions and Other Benefits Time allowed: Three hours INSTRUCTIONS TO THE CANDIDATE 1. You ... read more >>
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- Author:
- Pensions Board
Terms of reference for review of the minimum funding requirement
Benchmark funding level for salary related occupational pension schemes to protect members’ accrued rights in the event of the sponsoring employer becoming insolvent. Protection at a level to enable pensions in payment to continue in full (excluding ... read more >>
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- Author:
- Pensions Board\; Mike Pomery
- Source:
- Scheme Actuary letter
Review of the Minimum Funding Requirement
I am very pleased to inform you that the Government has asked the actuarial profession, through the Pensions Board of the Faculty & Institute of Actuaries, to carry out a wide ranging review of the Minimum Funding Requirement. 3 March, 1999 To All ... read more >>
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GN29: Occupational pension schemes - actuaries advising the trustees or a participating employer. Version 3.0
This pensions Guidance Note has been retained by the Actuarial Profession. Faculty and Institute of Actuaries Guidance note GN29V3.0. (01.03.1999) GN29: Occupational Pension Schemes - Actuaries Advising the Trustees or a Participating ... read more >>
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- Author:
- M A Stocker; S D Dudley; G E Finlay; H J Fisher; O C H Wood; M H D Kemp; W Lumb; M W Miles; S L Wasserman
- Source:
- British Actuarial Journal [BAJ] (1999) 5(4): 763-800
The role and responsibilities of actuaries in the defined contribution environment in the United Kingdom
This paper takes an overview of the potential roles and responsibilities of pension scheme actuaries in the United Kingdom in relation to defined contribution (DC) schemes. First it summarises briefly the background to UK retirement provision and in ... read more >>