FRC proposes amendments to actuarial standard for new multi-employer CDC pension schemes
News types: Codes and Standards Announcements
Published: 9 February 2026
The Financial Reporting Council (FRC) has today issued a consultation to ensure that Technical Actuarial Standard (TAS) 310, which underpins the fairness and transparency of collective defined contribution (CDC) pension schemes[1] , remains appropriate as the sector develops in line with legislation.
The proposed revisions to TAS 310 respond to recent legislation enabling multiple unrelated employers to share a single collective pension arrangement - potentially making this type of pension more accessible to UK workers. These schemes bring new areas of actuarial work, particularly around supporting trustees and proprietors[2] to ensure fairness between different employers.
The FRC has proposed introducing requirements around “actuarial equivalence” in TAS 310, providing actuaries with an appropriate and up-to-date framework for working with this emerging area of the pensions landscape. TAS 310 v1.1 has been devised to ensure the standard continues to support high-quality actuarial analysis that underpins informed decision-making.
Mark Babington, Executive Director of Regulatory Standards"High-quality actuarial work is fundamental to maintaining investor confidence in UK pension schemes. These revisions to TAS 310 ensure that as CDC schemes evolve to serve more employers and members, the standards underpinning them keep pace. This supports informed decision-making and reinforces the UK's reputation for well-regulated pension provision."
The FRC first published TAS 310 in 2024 to support trust and stability in CDC schemes. The revised standard builds on this foundation as the market expands.
The consultation closes on 23 March 2026. Responses can be submitted via [email protected]. The revised standard is intended to come into force on 31 July 2026, in line with the effective date of the new regime for unconnected multiple employer schemes.