FRC tweaks AS TM1 to make pension projections more consistent

The changes will also make pension projections more reliable for dashboards

clock • 1 min read
FRC tweaks AS TM1 to make pension projections more consistent

The Financial Reporting Council (FRC) has revealed changes to the Actuarial Standard Technical Memorandum 1 (AS TM1) to support consistent and reliable pension illustrations for defined contribution (DC) members.

The tweaks include standardising the accumulation rate assumptions and the form of annuitisation at retirement.   The FRC said the changes are a "major step change" to increase consistency between ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

LCP publishes 2025/26 annual report

LCP publishes 2025/26 annual report

Consultancy’s report showed PRT team led on transactions totalling £7.8bn in 2025

Martin Richmond
clock 03 August 2026 • 1 min read
Greater investment choice could drive pension engagement, says Penfold

Greater investment choice could drive pension engagement, says Penfold

Digital provider suggests guidance should be balanced with choice

Alex Levy
clock 03 August 2026 • 2 min read
Government confirms date for Autumn Budget 2026

Government confirms date for Autumn Budget 2026

John Healey’s first Budget as chancellor will take place on Wednesday 28 October

Holly Roach
clock 03 August 2026 • 2 min read
Trustpilot