Consultation on AS TM1 v5.2 (October 2025)
Published: 30 October 2025
Response deadline: 1 December 2025
| Title | Consultation on AS TM1 v5.2 (October 2025) |
|---|---|
| Format | pdf, 283.0 KB |
On this page
Overview
The FRC launched a consultation on AS TM1 v5.2, proposing no amendments to the assumptions in the standard, and a minor wording amendment relating to fund volatility calculation dates to clarify policy intention.
The consultation is now closed.
| Name | AS TM1 v5.2 Exposure Draft |
|---|---|
| Publication date | 30 October 2025 |
| Type | Exposure draft |
| Format | PDF, 389.4 KB |
| Name | AS TM1 Accumulation Rates – Technical Analysis as at 30 September 2025 |
| Publication date | 30 October 2025 |
| Format | PDF, 1.7 MB. View HTML version |
6 February 2026 Update
Following the consultation, the FRC has published a feedback statement to accompany the Actuarial Standard TM1 version 5.2 and accompanying guidance v5.2.
| Name | AS TM1: Statutory Money Purchase Illustrations v5.2 (from 6 April 2026) |
|---|---|
| Publication date | 6 February 2026 |
| Type | Standard |
| Format | PDF, 407.3 KB. View HTML version |
| Name | AS TM1: Statutory Money Purchase Illustrations v5.2 Guidance |
| Publication date | 6 February 2026 |
| Type | Guidance |
| Format | PDF, 301.9 KB. View HTML version |
| Name | Feedback Statement and Impact Assessment - AS TM1: Statutory Money Purchase Illustrations (February 2026) |
| Publication date | 6 February 2026 |
| Type | Feedback paper |
| Format | PDF, 211.6 KB. View HTML version |
Consultation responses
| Title | 01 The Association of British Insurers response to AS TM1 consultation |
|---|---|
| Format | pdf, 417.4 KB |
| Title | 02 The Association of Consulting Actuaries response to AS TM1 consultation |
| Format | pdf, 175.9 KB |
| Title | 03 Aon response to AS TM1 consultation |
| Format | pdf, 235.2 KB |
| Title | 04 Gallagher response to AS TM1 consultation |
| Format | pdf, 592.2 KB |
| Title | 05 The Investment & Life Assurance Group Limited response to AS TM1 consultation |
| Format | pdf, 52.4 KB |
| Title | 06 Isio response to AS TM1 consultation |
| Format | pdf, 146.7 KB |
| Title | 07 Nest Corporation response to AS TM1 consultation |
| Format | pdf, 120.1 KB |
| Title | 08 Phoenix Group response to AS TM1 consultation |
| Format | pdf, 177.9 KB |
| Title | 09 Quantum Consulting Accountants Limited response to AS TM1 consultation |
| Format | pdf, 214.6 KB |
| Title | 10 WTW response to AS TM1 consultation |
| Format | pdf, 75.0 KB |