§ 26. Mr. FlightTo ask the Secretary of State for Social Security when the new guidelines for the calculation of the minimum funding requirement for pension schemes will be published. [42953]
§ Mr. DenhamThe actuarial profession's proposals for a change to the valuation method have been agreed, and their guidance note is being revised. There is an ongoing review of the minimum funding requirement's methodology.
§ 34. Dr. Julian LewisTo ask the Secretary of State for Social Security what factors underlay her decision not to initiate a review of the minimum funding requirement immediately after the July Budget. [42961]
§ Mr. DenhamThe methodology and actuarial assumptions in the minimum funding requirement were devised by the Faculty and Institute of Actuaries. We were informed that they would be carrying out a review following the July Budget. We fed into that review a report by the Government Actuary, whose views we had sought on a number of issues.