Barnett Waddingham LLP

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Contributions by Barnett Waddingham LLP Experts

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Methods of valuing pension liabilities and related funding concepts
Practice notes

This Practice Note covers the key methods of valuing defined benefit liabilities, including the scheme-specific funding basis, the solvency basis, the s 143 basis, the s 179 basis, the neutral (or best estimate) basis, the IAS19 basis and UK GAAP. This Practice Note also explains the difference between valuing past service benefits and future service benefits, as well as related funding concepts, eg share of fund, actuarial factors and funding risks.

Running a closed defined benefit scheme
Practice notes

This Practice Note looks at some of the practical considerations for both trustees and sponsoring employers of defined benefit pension schemes which are closed to future accrual of benefits. It covers the key actions to be taken by trustees following a decision to operate as a closed scheme, the need to regularly review and consider matters relevant to running a closed scheme like monitoring the employer covenant and risks, ongoing liability and investment strategy, governance of a closed scheme, and issues relating to schemes that were contracted out.

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