Most respondents agreed with proposal to make no amendments to AS TM1 v5.1.
Actuarial standard TM1 v5.1 remains in effect for statutory money purchase. illustrations calculations performed between Apr. 6, 2025 and Apr. 5, 2026.
UK FRC launched consultation on actuarial standard technical memorandum 1 (AS TM1), with proposals to maintain current standard following its annual review.
Issued consultation with Accumulation rates technical analysis as at Sep. 30, 2024.
This year's review revealed limited change in market volatility and return expectations.
UK FRC therefore proposes to keep AS TM1 v5.1 in force for statutory money purchase illustrations based on calculations performed between Apr. 6, 2025 and Apr. 5, 2026.
The results of the consultation are expected to be published by Feb. 15, 2025.
UK FRC said pension scheme members must have confidence in illustration consistency and reliability, and that AS TM1 would continue helping users understand projections.
Most respondents agreed with proposal to make no amendments to AS TM1 v5.1.
Actuarial standard TM1 v5.1 remains in effect for statutory money purchase. illustrations calculations performed between Apr. 6, 2025 and Apr. 5, 2026.
