The Purple Book is vital for helping us understand the risks we face as an organisation with obligations to our members, in an environment of significant uncertainty.
Here you'll find all the guidance you'll need to complete a valuation in line with sections 143, 152, 156, 158 and 179 of the Pensions Act 2004. Section 143 valuations This section is relevant for actuaries completing a valuation to determine a scheme's funding level.
From time to time we consult on possible changes to our actuarial assumptions. You can find details of those consultations and their findings here. 2023 consultation on assumptions We are holding a six-week consultation on possible changes to the actuarial assumptions used for valuations carried out under section 143 and section 179 of the Pensions Act 2004.
Pension Lifetime Allowance� The lifetime allowance (LTA) is the limit on how much you can build up in pension benefits over your lifetime while still receiving full tax benefits. The LTA is currently set at �1,073,100; if your pension pots go over the allowance, you�ll usually pay a charge.� Now the compensation cap is being removed; some members may be liable to pay a lifetime allowance charge on their PPF benefits.�
Climate change is one of the biggest issues on the global agenda. One that has the potential to impact businesses, economies and people everywhere. We�re actively looking to manage the impact of climate change and its related risks and opportunities through our investment approach. We're committed to:
We manage environmental, social and governance (ESG) risks to protect and enhance the value of our investments. By acting as a responsible and vigilant asset owner and using our influence as a major institutional investor, we encourage best practice from the top down and bottom-up. We believe it's vital we demonstrate a robust and effective approach to RI, and we see the integration of material ESG issues as an essential part of the investment process.
The policy should be considered alongside our Statement of Investment Principles (SIP), our Climate Change Policy and our overall RI framework and strategy�The SIP is the written statement governing our decisions about investments, and reflects the objectives and timeframes of our current and future beneficiaries and stakeholders.�
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