16 December 2024
On 9 December 2024, the Financial Reporting Council (FRC) published a consultation proposing revisions to Technical Actuarial Standard 300: Pensions (TAS 300) to reflect recent developments in pension scheme funding.
The proposed revisions to TAS 300 aim to support practitioners carrying out actuarial work under the new defined benefit funding regime, including new provisions relating to advice arising from improved funding levels of defined benefit schemes.
The FRC’s Executive Director of Regulatory Standards, Mark Babington said: “Today’s proposed revisions to TAS 300 are designed to ensure that actuarial advice remains responsive and aligned with the evolving landscape for defined benefit pension schemes. TAS 300 helps ensure these schemes, which hold significant potential for economic growth, are underpinned with quality actuarial advice.”
The FRC invites stakeholders to attend a webinar on 14 January 2025 to explore the proposed revisions to TAS 300.
Read the full consultation and take part