Three pensions exposure drafts

Abstract

EXD6: The purpose of this draft Guidance is to enable the actuary, in the interests of his client, to determine the appropriate method and assumptions for calculating pension costs, while recognising and interpreting, in the actuarial context, the requirements of SSAP 24.

EXD7: The purpose of the proposed Guidance results from a report from the Occupational Pensions Board: ‘Protecting Pensions: Safeguarding Benefits in a Changing Environment’. This recommended that bulk transfers of members without consent from one pension scheme to another should be permitted only if the actuary believes that certain conditions have been fulfilled to protect the interests of members and that in this context Professional Guidance should be given.

EXD8: This draft Guidance results from a request from the DSS to provide Professional Guidance in connection with the implementation of those provisions of the Social Security Act 1990 regarding the determination and application of the ‘valuation surplus’ to provide Limited Price Indexation for pensions in payment.