Atkin trustees, actuaries, consultants & administrators

Current issues - February 2018

TPR gets tough: More examples of TPR’s determination to improve standards and punish those who believe they can flout the rules.

Amendment to IAS19 accounting standard: From 1 January 2019, pension costs must take into account prescribed events such as closure to accrual, restructuring, liability management exercises or a change to benefits.

Pension Dashboards – will all schemes have to participate?: Will DB schemes be required to participate and will this lead to additional costs?

Consolidation of DB schemes would be ‘challenging’: DWP highlight that there are ‘significant issues’ that would need to addressed, ahead of the White Paper expected before the Summer.

PPF finalises 2018/19 details: Little has changed since the draft determination issued in September;

• The risk based levy cap will be reduced from 0.75% to 0.5% of smoothed liabilities.

• Various changes have been made to the calculation of the insolvency score (including rebuilding some of the risk scorecards)

• Simplifying the certification of DRCs to remove the allowance for investment expenses and allowing smaller schemes to “self-certify”

• Certification of parental guarantees that are expected to result in levy savings of more than £100k will require an independent guarantor strength report

• The template contingent asset agreements and guidance has been updated and will need to applied for any new agreement and certain agreements will need to use the new standard in 2019/20


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It is always a pleasure to deal with Atkin Trustees. They have a professional team that has a good grasp of the practical aspects as well as the theoretical. We look forward to continuing to work with them in the future.

Alex McGill, Blake Lapthorn