THE FRC has extended the scope of its technical actuarial standards (TASs) to include actuarial work on pension incentive exercises.
The reporting watchdog's move is intended to address concerns that members of defined benefit schemes may be misled by financial incentives being offered into giving valuable pension benefits.
Commenting on the announcement, Olivia Dickson, chairman of the FRC's Actuarial Council, said: "It is important that members are provided with clear, reliable and sufficient information so that they can take informed decisions.
"In order to provide greater assurance of the quality of actuarial information provided, the FRC has decided to bring incentive exercises into the scope of the Pensions TAS."
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This web seminar will explain how finance directors can monitor and understand the various financial costs of staff turnover, including logistical costs and the impact of lost productivity as new employees are brought up to speed
8.30am, 26 Jun 2014
Targeted at FDs and CFOs, the FD Conference 2014 provides a platform in which to learn from outstanding keynotes and network with like-minded peers
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