The IFoA Review Team has recently launched a new thematic review that will look into corporate pensions advice.
This will consider the advice given by actuaries to the sponsors of UK defined benefit (DB) pension schemes, looking at funding and strategic advice.
Actuarial advice to sponsors is critical to the financing of DB pension schemes, which affects the long-term security of member benefits. The range of advice in this area is potentially wider than the advice given to trustees and may involve other professionals. The review will look at current practices adopted by actuaries
in this area.
Senior review actuary David Gordon added, “Although corporate actuaries advise the sponsor rather than the trustees, their advice can have a material impact on pension scheme members, making corporate pensions advice a significant area of public interest.”
The review is open to submissions until 2 September. To take part in this exercise, or for more information on planned reviews, please visit bit.ly/3Hkei8S or contact the Review Team directly for more information at [email protected]
The IFoA Thematic Review Programme is part of the Actuarial Monitoring Scheme, designed to improve the effectiveness of actuarial regulation in the public interest, provide meaningful, credible, independent feedback to members and their employers, and promote ongoing reinforcement and continuous improvement.
