FRC to develop technical guidance for pension scheme actuaries to respond to forthcoming legislation

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Published: 3 October 2025

FRC will develop technical guidance to support scheme actuaries in confirming historic pension scheme amendments, following forthcoming legislation prompted by the Virgin Media Ltd v NTL Pension Trustees case.

The government has decided to bring forward legislation to permit retrospective confirmation of pension scheme amendments, following the Virgin Media Ltd v NTL Pension Trustees court case. This will allow scheme actuaries to provide confirmation that historic benefit changes made by schemes met the necessary standards.

To support scheme actuaries working with affected pension schemes, the Financial Reporting Council will develop technical guidance and make it available when the expected legislation comes into force. In doing so the FRC will work closely with industry professionals, the Institute and Faculty of Actuaries and the Association of Consulting Actuaries. This guidance will meet the FRC’s obligations for developing technical actuarial standards and supporting guidance, as well as its public interest mandate.