The Terms of Reference of the Finance & Investment Committee state, inter alia, that:
“The Committee shall annually review the base financial & economic assumptions for use by Practice Committees in setting assumptions in ASPs and make recommendations to Council”.
A report is prepared annually by the Finance & Investment Committee in accordance with its Terms of Reference for approval by Council. This sets out the principles that Practice Committees are expected to take into account in setting financial assumptions in ASPs. If actuaries and/or others use these assumptions for their own work, they will need to exercise judgment on the appropriateness and suitability of the assumptions for their particular purposes.
The 2023 Financial and Economic Assumptions and Principles report is available below.