PSI20.2.15 - Funding and Surpluses: Self-Administered Schemes - Form of Actuarial Reports - “Market Value”

(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 “Market Value” method uses the full market value of the assets on the valuation day. This basis also has its weaknesses since market values can fluctuate sharply over very short periods.

This valuation method can also result in the fund being presented as smaller than it actually is if market values are depressed at the valuation date. You should therefore follow the guidance in PSI20.2.14.

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