The actuarial standards of The Financial Reporting Council have been extended to include work on pension incentive exercises.
The move is in response to worries that members of DB schemes could be misled by financial incentives into giving away valuable benefits.
Olivia Dickson, chairman of the FRC’s Actuarial Council, has commented: ‘It is important that members are provided with clear, reliable and sufficient information so that they can take informed decisions.
Actuarial work is carried out at various stages of these incentive exercises and can influence the terms of incentives offered and the communications to members.’
Find out more about actuarial work.