US - New compliance requirements under Financial Accounting Standards No.87 (FAS 87) and funding rules will require pension fund plan sponsors to make prudent assumptions when selecting discount rates and expected return on asset (ROA) valuations, according to a study by asset manager SEI.
Jon Waite, chief actuary for SEI's Institutional Group, said: "The changes in spreads and in the shape of applicable yield curves require a close examination of the data and a clear process for selection of these assumptions.
"When combined with all of the other changes in pension rules, plan sponsors are in need of transparent and understandable guidance on these and other pension financial management issues."
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.