FRC withdraws ASORP 1 to streamline actuarial standards framework

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Published: 23 October 2025

The Financial Reporting Council (FRC) has today announced the withdrawal of ASORP 1: Financial Analysis of Social Security Programmes, with immediate effect.

ASORP 1 was originally introduced to provide additional guidance for actuaries performing, reviewing, advising or opining on financial analyses of social security programmes, a specialised area of work involving projections, modelling, and actuarial analysis to support policy development. It supplemented the principles set out in the FRC’s Technical Actuarial Standard 100 (TAS 100) by offering more targeted support for practitioners in this field.

Now, following the most recent revisions to Technical Actuarial Standard (TAS) 100, the provisions of ASORP 1 are addressed within the updated standard. As a result, ASORP 1 is no longer required as a standalone document.

This withdrawal simplifies the regulatory framework and reduces the compliance burden for practitioners, while maintaining the high standards expected of actuarial work. TAS 100 will continue to apply to all work previously within the scope of ASORP 1.

The change reflects the FRC’s commitment to proportional regulation, ensuring that the framework remains relevant, streamlined, and fit for purpose. It also promotes clarity and consistency across actuarial standards, in line with the FRC’s public interest mandate.