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."
Sign up for Financial Director email alerts
Please enter your email below to receive your profile link
Search by job title, salary, or location - we only list senior financial roles
1830, 12 Mar 2013
Now in their second year, these prestigious awards recognise those in finance that have demonstrated success and innovation over the last 12 months. Entries are now open!
3pm, 28 Nov 2013
Join Financial Director for this informative web-seminar on how to use communication technology as a way to improve productivity, profits and reduce costs
Send to a friend