From time to time we consult on possible changes to our actuarial assumptions. You can find details of those consultations and their findings here.
Initial response to consultation
In March we published a consultation on changes to the actuarial assumptions required for valuations carried out under sections 143, 152, 156, 158 and 179 of the Pensions Act 2004.
The consultation lasted six weeks and there were nine responses, from the eight companies/organisations listed below and one individual respondent. We would like to thank all those who took the time to respond, as well as the insurance companies and PPF panel firms who helped us shape the proposals.
Following consideration of the responses, which were generally supportive, we have decided to implement the proposed guidance for section 143 and section 152 valuations in line with the consultation document. The new assumptions guidance will take effect from 31 May 2024.
The updated valuation and assumptions guidance documents (versions B11 / H9 for section 143 and version D6 for section 152) will be published on our website, along with a full summary of the responses that were given to the consultation, in due course.
List of respondents
- Barnett Waddingham
- Broadstone
- Hymans Robertson
- ISIO
- PwC
- Spence
- The Society of Pension Professionals
- Willis Towers Watson