PSI20.1.10 - Funding and Surpluses: Funding General - Actuarial Considerations

(This archived guidance relates to HMRC discretionary practice before the 6th April 2006. For current guidance on Registered Pension Schemes see the Registered Pension Schemes Manual)

The actuarial considerations underlying pension scheme funding are the same no matter which method of investment is chosen. When the scheme is set up the trustees require actuarial advice to determine the contributions needed to fund the benefits. If the scheme is self-administered, a consulting actuary is appointed for this purpose: if it is insured, actuarial advice forms part of the Life Office’s process in arriving at the premiums payable.

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