The Department for Work & Pensions have started a consultation on draft guidance prepared by the Government Actuary’s Department on the method and assumptions that will apply when actuaries undertake valuations in respect of FAS qualifying schemes to facilitate the transfer of assets. We hope that early consultation on this guidance will generate feedback on potential practical issues and enable schemes to start to undertake preparatory work.
Archive for April 2009
The Pension Protection Fund (PPF) has announced that from 1 April the 2009/10 compensation cap for defined benefit pension scheme members has risen by 3.5% to £31,936.32 for individuals aged 65. The compensation payable to scheme members who have taken early retirement has also increased by the same percentage.