Actuaries Actuarial Policy Actuarial Standards Current Technical Actuarial Standards

Current Technical Actuarial Standards

Technical Actuarial Standards Post Implementation Review

In February 2021 the FRC announced a post implementation review of the TASs, issuing a call for feedback for the current Framework for TASs, Technical Actuarial Standard 100 (TAS 100), and potential actuarial standards in relation to IFRS 17. This is to ensure they continue to support the delivery of high-quality technical actuarial work and satisfy the Reliability Objective. The call for feedback closes on 5pm, Friday, 7 May 2021.

In November 2021, the FRC published a position paper summarising the responses to the call for feedback on its post implementation review of the Technical Actuarial Standards, and setting out the FRC’s planned revisions to non-sector specific aspects of the TASs, in particular TAS 100.

In May 2022, the FRC issued a call for feedback on the current sector specific TASs, namely the Technical Actuarial Standards 200, 300, 400 (TAS 200, 300, 400), Actuarial Statement Of Recommended Practice 1 (ASORP 1), and other potential sector specific areas which might benefit from further technical standards.  The call for feedback closes on 5pm, 8 July 2022.
 
In June 2022, the FRC published a consultation paper on the proposed changes to the Technical Actuarial Standards 100 and its associated Exposure Drafts. Responses are to the questions set out in this consultation document are requested by 7 September 2022
 

Generic TAS

TAS 100: Principles for Technical Actuarial Work (PDF)

Read the IFoA guidance on the application of TAS 100.
 

Specific TASs

TAS 200: Insurance (PDF)

TAS 300: Pensions (PDF)

TAS 400: Funeral plan trusts (PDF) (Updated Jul 2020)


Framework for technical actuarial standards (from 18 May 2019)

In April 2019, the FRC updated the Framework for technical actuarial standards to update references to The Actuaries’ Code (issued by the Institute and Faculty of Actuaries, IFoA) to reflect changes to the Code which come into effect on 18 May 2019. The changes did not change the intention or content of the Framework itself. 

Framework for Technical Actuarial Standards - May 2019 (PDF)

The previous version of the Framework can be found here:
Framework for Technical Actuarial Standards (PDF)
 

Glossary of terms (Definitions of terms used throughout the TASs)

Glossary of defined terms used in FRC technical actuarial standards (PDF)
 

Actuarial Statement of Recomended Practice 1 (ASORP1): Financial Analyses of Social Security Programmes

ASORP 1: Financial Analyses of Social Security Programmes (PDF)