How we support many clients in meeting their statutory requirement to provide Statements of Reasonable Projection to clients (both under PRSAs and occupational pension schemes).
The background
The PRSA Disclosure Regs and the Occupational Pension Scheme Disclosure Regs require projections of pension benefits for members and estimations of their annual pension at retirement. LCP have experience in providing actuarial support in developing systems that are compliant with actuarial standards and the regulations.
Our solution
LCP actuarial services are expertly placed to build, specify and implement a variety of projection systems for PRSA Providers, Trustees and Registered Administrators. Our involvement includes,
- System specification;
- System development and delivery;
- Advice on assumptions and parameters;
- Testing of outputs
- Ensuring compliance with legislative and actuarial requirements
The results
Cost effective solutions for providers preparing Statements of Reasonable Projection who do not have the in house actuarial expertise.
Reassurance and oversight of in house projection systems for trustees and registered administrators with their own systems.
