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The Actuary The magazine of the Institute & Faculty of Actuaries

Pensions Board news: GN29 Scheme actuary appointme

In the May 2004 edition of The Actuary, the Professional Guidance Committee published a number of case study reports. Case study 5 related to paragraph 3.4 of GN29 and discussed the question of what is considered to be a ‘prolonged period of absence’ before a scheme actuary should resign or be replaced. A number of further questions have arisen, in particular in relation to maternity leave.

Paragraph 3.4 of GN29 requires a scheme actuary to consider whether or not to resign his or her appointment if he or she expects to be absent from the office for a prolonged period. Paragraph 4.6 then requires that if, in such circumstances, the scheme actuary does not intend to resign, he or she must put in place arrangements to be kept advised of developments in relation to the scheme during the period of absence in order for the scheme actuary to carry out his or her role. Under paragraph 3.4 arrangements must also be put in place for trustees to be advised of the need to replace the scheme actuary if he or she is unable to continue to act for a prolonged period and is unable to advise the trustees of this fact himself or herself.

Therefore, if a member has put in place appropriate mechanisms to enable him or her to carry out fully his or her scheme actuary duties during his or her absence from the office, and he or she remains able to carry out fully those duties, it is permissible under GN29 for the member to retain his or her scheme actuary appointments during a prolonged period of absence.