FRC issues finalised guidance to support actuaries dealing with historic amendments to pension rules
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Published: 22 May 2026
Following the Pension Schemes Act 2026 receiving its Royal Assent, the Financial Reporting Council (FRC) has today issued finalised guidance to support pension scheme actuaries in providing retrospective confirmation to validate historic changes to pension scheme rules.
The guidance introduces minor amendments to wording and references to ensure clarity and alignment with the enacted legislation. Originally published in draft earlier this year, the guidance has been developed to address industry-wide uncertainty raised by the “Virgin Media v NTL Pension Trustees” judgment. It sets out practical, non-prescriptive support for actuaries, including illustrative examples that demonstrate how a proportionate approach may be applied when gathering evidence and exercising professional judgement, particularly where historical records are incomplete.