12.30pm - tea/coffee/sandwiches
1pm - meeting
2pm - finish
Over the coming months, trustees of defined benefit schemes will need advice from Scheme Actuaries as they prepare funding proposals for submission to the Pensions Board.
One of the items for consideration is how to project the value of liabilities at future dates. Given current conditions in bond markets, should current bond yields be used or should projected future yields be used? And if the latter, what considerations should be taken into account in setting an assumed yield?
These questions have been considered by a Society working party, who will present their thoughts for discussion.
EDIT, December 2012: Following further discussion within the Society after this meeting, the Working Party finalised its paper, which is attached below.
Revisions to ASP Pen-3 and ASP Pen-4
Council proposes to make a number of revisions to ASP Pen-3 and ASP Pen-4, primarily to reflect recent legislative and regulatory changes. Members of the working party who drafted the revised ASPs will give an overview of the revisions, answer questions and give an initial response to any feedback that members may have.