Scheme Returns: New Information Requirements

The Pensions Regulator has issued details of additional information which trustees will be required to include in Scheme Return submissions. Trustees are required to complete a Scheme Return only when requested to do so by the Regulator (generally at between one- and three-yearly intervals).

New information which will be required from defined benefit and hybrid schemes includes:

• details of asset-backed contribution arrangements;
• Value-at-Risk (VaR) calculations undertaken by the Scheme Actuary. A VaR is a method of assessing the size and likelihood of potential risks over a defined period of time; and
• financial assumptions used to calculate technical provisions for schemes in surplus.