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Funding Defined Benefit Pension Schemes

Author

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  • Cowling, C. A.
  • Gordon, T. J.
  • Speed, C. A.

Abstract

This paper puts the case for the Actuarial Profession revising and tightening its standards on actuarial funding advice in relation to United Kingdom occupational pension schemes. We critique current actuarial practice and advocate principles for measuring solvency and providing funding advice. In particular, we advocate that funding targets should be clearly and unambiguously related to scheme solvency. The paper also covers optimal investment strategy, treatment of the ‘company covenant’ when giving funding advice and governance issues relating to pension schemes.

Suggested Citation

  • Cowling, C. A. & Gordon, T. J. & Speed, C. A., 2005. "Funding Defined Benefit Pension Schemes," British Actuarial Journal, Cambridge University Press, vol. 11(1), pages 63-97, April.
    • Handle: RePEc:cup:bracjl:v:11:y:2005:i:01:p:63-97_00
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    Cited by:

    1. Bill Martin, 2020. "Resurrecting the UK Corporate Sector Accounts," Working Papers wp519, Centre for Business Research, University of Cambridge.

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