Consultation outcome

The Financial Assistance Scheme: draft guidance relating to the transfer of scheme assets to government

• From: Department for Work and Pensions
• Published: 28 January 2010

This was published under the 2007 to 2010 Brown Labour government

This consultation has concluded

Read the full outcome

Government response to consultations on Financial Assistance Scheme Guidance relating to the Transfer of Assets to government and proposed revisions to the Synthetic Buy-Out Basis

PDF, 103 KB, 24 pages

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Detail of outcome

This document presents the main points made by respondents and provides the government’s response.

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Original consultation

Summary

This consultation sought views on draft guidance about the transfer of Financial Assistance Scheme assets to government.

This consultation ran from
28 January 2010 to 11:45pm on 10 March 2010

Consultation description

This consultation sought views on the draft guidance to the Financial Assistance Scheme (FAS) (Miscellaneous Amendments) Regulations 2010, laid before Parliament on 3 February 2010, which included provision for the assets remaining in relevant FAS-qualifying schemes to transfer to government.

It also sought views on the government’s prepared guidance on how transferring schemes might deal with the impact of the guaranteed minimum pension on the equalisation (between men and women) of members’ expected pensions ahead of providing data to the FAS scheme manager.

The consultation has now closed. It ran from 28 January to 10 March 2010.

Documents

The Financial Assistance Scheme: draft guidance relating to the transfer of scheme assets to government

PDF, 110 KB, 16 pages

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The Financial Assistance Scheme: information on the preparation of relevant accounts and guidance for actuaries to value particular assets to support FAS valuations

PDF, 85.2 KB, 14 pages

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Draft guide to valuation template

PDF, 264 KB, 36 pages

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Valuation data template

MS Excel Spreadsheet, 591 KB

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The Financial Assistance Scheme: guidance to assist schemes to provide expected pension data in a way that ensures Financial Assistance Scheme payments are calculated on an equalised basis

PDF, 146 KB, 14 pages

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The Financial Assistance Scheme: example calculations for a valuation for relevant FAS-qualifying schemes

PDF, 248 KB, 31 pages

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Published 28 January 2010