December 2020 will see the publication of the first Actuarial Monitoring Scheme (AMS) Thematic Review report
The report will share the findings of our review on actuarial factors used to calculate benefits in UK pension schemes. It represents a significant milestone for the AMS, as the first time that the IFoA has been able to review independently, in a regulatory context, the standard of work being carried out in practice by actuaries. The findings will allow us to share learning and good practice with members and employers. Recommendations will be used by the Regulation Board to ensure IFoA regulation is as effective and relevant as possible, helping it safeguard the profession’s reputation and serve the public interest.
David Gordon, who leads the AMS team, added, “We are particularly grateful to the scheme actuaries from 19 organisations who agreed to have their work scrutinised as part of this review, the findings of which will help members further improve the quality and clarity of their work.”
The report, which will be titled Pensions: actuarial factors used to calculate benefits in UK pension schemes, will be published at bit.ly/2Ug83vd