No. 166 September 2008 - Accounting for Pension Costs
In this Analysis we look at recent developments in pensions accounting. We set out the main findings from our survey of FTSE350 companies, reflecting how accounting assumptions have been affected by the 'credit crunch'. We also summarise some significant changes to international accounting standards in respect of pensions.

These issues are likely to be of interest to both employers sponsoring defined benefit schemes and trustees of such schemes, given the interrelationships between accounting and scheme funding.

No. 165 August 2008 - An Update on Funding Valuations
The new scheme funding regime has been in place for almost three years and there are now a significant number of completed valuations. One question that both trustees and employers often ask is "what are other schemes doing?" This Analysis sets out to help answer this question and builds upon a similar survey of valuations in progress carried out in 2007 (Analysis No. 163).

No. 164 May 2008 - A Question of Values
Regulations amending the legal requirements for calculating transfer values (or, to use the correct legal term, cash equivalents) were published on 11 April 2008. The legislation is intended to broadly maintain transfer values in line with existing arrangements. However, a significant difference is that the responsibility for setting assumptions moves from the scheme actuary to the trustees.

As a result of the new Regulations, trustees will need to review the method and assumptions currently used. Guidance is expected from the Pensions Regulator on “various issues surrounding transfer values”.

This Analysis looks at the issues which trustees should consider in answering the question – what value should we place on members’ benefits?

Trustee decisions on transfer values will also be of considerable interest to sponsoring employers as they will have a direct impact on the scheme’s funding position.

Extra Year for Pensions Changes.