FRC says actuarial regulation will cost schemes up to £1.7m in 2006/07

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THE FINANCIAL Reporting Council estimates that funding for actuarial standards and regulation in 2006/7 will cost £1.7m, covered by contributions from the profession, insurance sector and schemes.

Schemes with 1000 or more members will be required to contribute on the basis of a levy of £2 per 100 members. Agent HBS – which collects levies from The Pensions Regulator and Pension Protection F...

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