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

Documents
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
Documents
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

Documents
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
Supporting documents
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) 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.

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