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SPP calls for revisions to FRC’s TAS 300 for pensions to support the new DB funding code, avoiding prescriptive ‘prudence’ disclosures and unnecessary cash flow provisions

Published on: 05 March 2025

Published by a Law360 reporter
Legal News
Article summary

The SPP indicated it was supportive of the FRC’s planned updates to its actuarial guidance, referred to as Technical Actuarial Standard 300 (TAS 300). In December 2024, the FRC opened a consultation outlining measures intended to assist practitioners undertaking actuarial work within the new defined benefit (DB) funding framework. The Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024, SI 2024/462, together with the Pensions Regulator’s updated DB Funding Code of Practice, mandate the procurement of actuarial advice across several matters and the application of actuarial judgement...

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