Guidance

Valuations of FAS qualifying schemes: method and assumptions

Method and assumptions to use when undertaking valuations in FAS qualifying pension schemes with a calculation date on or after 30 Sept 2010.

From:
Department for Work and Pensions
Published
25 October 2011

This publication was withdrawn on

FAS schemes have closed and been transferred the Pension Protection Fund.

Documents

Financial Assistance Scheme: method and assumptions to use when undertaking a valuation under Regulation 22 of the Financial Assistance Scheme Regulations 2005

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Appendix: Financial Assistance Scheme: method and assumptions to use when undertaking a valuation under Regulation 22 of the Financial Assistance Scheme Regulations 2005: underpin benefits

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Financial Assistance Scheme: method and assumptions to use when undertaking a valuation under Regulation 22 of the Financial Assistance Scheme Regulations 2005

PDF, 267 KB, 44 pages

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Appendix: Financial Assistance Scheme: method and assumptions to use when undertaking a valuation under Regulation 22 of the Financial Assistance Scheme Regulations 2005: underpin benefits

PDF, 52.6 KB, 5 pages

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Details

This guidance covers the method and assumptions that should be followed by actuaries undertaking valuations to determine the asset shares of beneficiaries in Financial Assistance Scheme (FAS) qualifying pension schemes that are transferring assets to government under Regulation 22 of the Regulations 2005.

The guidance applies to schemes with a calculation date on or after 30 September 2010. (The calculation date is the last day of the month during which the FAS scheme manager instructs the trustees or managers of the scheme to obtain the valuation).

The appendix provides guidance on the treatment of underpin benefits in the FAS valuation and replaces paragraph 65 of Section 2 of the main guidance.

Published 25 October 2011

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