Housing briefing, April 2021 – Pension Cost Accounting as at 31 March 2021

We discuss pension cost accounting disclosures under FRS 102 as at 31 March 2021. Many associations will see an increase in their FRS 102 balance sheet deficits this year. However, default FRS 102 assumptions provided by TPT, LGPS funds or scheme actuaries should simply be a starting point for consideration.

First Actuarial case studies

Usdaw

Trade union Usdaw selected First Actuarial to transform its scheme administration, resulting in improved quality and time-cost savings.

Southern Co-op

First Actuarial's fiduciary management consultants guided the trustees of Southern Co-op through their provider review, delivering fee savings.

Oil and Gas Industry

Oil and gas company DB scheme wind-up resulted in generous transfers for members and £3m surplus for employer, with First Actuarial’s help.