Technical Actuarial Standards
Published: 25 September 2023
2 minute read
Post Implementation Review
In February 2021 the FRC announced a post implementation review of the TASs to ensure they continue to support the delivery of high-quality technical actuarial work and satisfy the Reliability Objective. In 2021, the FRC issued a call for feedback (2021) and a position paper (2021) summarising the responses to the call for feedback. In June 2022, the FRC published a consultation paper on the proposed changes to Technical Actuarial Standard 100 and in March 2023 this was followed by a Feedback Statement accompanying the revised Standard.
In 2022, the FRC issued a further call for feedback (2022) on the current sector specific TASs. The position paper (2023) summarising the responses was issued in February 2023.
Generic TAS
| Name | TAS 100: General Actuarial Standards Version 2.0 |
|---|---|
| Publication date | 3 March 2023 |
| Format | PDF, 1.4 MB |
| Name | Erratum TAS100 Version 2.0 April 2023 |
| Publication date | 25 April 2023 |
| Format | PDF, 83.5 KB |
| Name | Q&A TAS 100 Version 2.0 April 2023 |
| Publication date | 12 June 2023 |
| Format | PDF, 331.2 KB |
| Name | TAS Guidance: Models (effective 1 July 2023) |
|---|---|
| Publication date | 29 June 2023 |
| Type | Guidance |
| Format | PDF, 293.1 KB |
| Name | TAS Guidance: Proportionality (effective 1 July 2023) |
| Publication date | 3 March 2023 |
| Format | PDF, 1.1 MB |
| Name | TAS Guidance: Technical Actuarial Work and Geographic Scope (effective 1 July 2023) |
| Publication date | 3 March 2023 |
| Format | PDF, 1.1 MB |
Specific TASs
| Name | TAS 200: Insurance |
|---|---|
| Publication date | 14 December 2016 |
| Type | Standard |
| Format | PDF, 319.6 KB |
| Name | TAS 300: Pensions |
| Publication date | 14 December 2016 |
| Type | Standard |
| Format | PDF, 309.5 KB |
| Name | TAS 400 - Funeral Plans v3 |
| Publication date | 10 July 2023 |
| Format | PDF, 228.9 KB |
| Name | Glossary of defined terms used in FRC technical actuarial standards |
|---|---|
| Publication date | 14 December 2016 |
| Type | Standard |
| Notes | This glossary applies to all technical actuarial work completed prior to 1 July 2023. For technical actuarial work completed on or after 1 July 2023, this glossary continues to apply with the proviso that definitions contained within TAS 100 version 2.0 supersede the corresponding definitions in this glossary. Similarly, any definitions contained within specific TASs issued after 1 July 2023, supersede the corresponding definitions within this glossary. This glossary will cease to apply once the current post implementation review of the TASs has been completed. |
| Format | PDF, 286.2 KB |
Actuarial Standard Technical Memorandum: AS TM1
Actuarial Standard TM1 specifies the actuarial assumptions and methods to be used in the calculation of Statutory Money Purchase Illustrations (SMPIs).
Actuarial Statement Of Recommended Practice 1 (ASORP 1)
Actuarial Statement Of Recommended Practice 1 (ASORP 1) promotes high quality technical actuarial work where actuaries are performing a financial analysis (or analyses) of Social Security Programmes (SSPs), or reviewing, advising on, or opining on such analyses.
Previous consultations
Proposed amendments to Technical Actuarial Standards for Pensions
May 2023
Consultation on proposed amendments to Technical Actuarial Standards 400 - [Feedback Statement]
February 2023
TAS 100 Version 2.0 Consultation - [Feedback Statement]
June 2022
Call for Feedback on Sector Specific Technical Actuarial Standards - [Position Paper]
May 2022
AS TM1 Version 5.0 Consultation
February 2022
TAS Post Implementation Review - [Call for Feedback] [Position paper]
February 2021
TAS 400 - Funeral Plan Trusts - [Consultation Document, Appendix 1, Appendix 2] [Feedback Statement]
July 2020
ASORP 1: Consultation on Actuarial Statement of Recommended Practice 1
November 2018
A new framework for Technical Actuarial Standards
November 2014