The PPF is responsible for setting the assumptions for scheme valuations which are carried out for PPF purposes (including valuations which take place during a PPF assessment period and valuations for the purposes of calculating the scheme's risk-based levy). It is considering changes to the valuation assumptions to take account of recent changes in the buy-out market. If brought into effect, the changes will affect valuations with an effective date on or after 1 May 2014 (the assumptions were last changed in April 2011).
A summary of the proposed changes can be viewed by clicking here.
The PPF estimates that the revised assumptions would potentially lead to a small increase in the number of schemes transferring to the PPF. Those wishing to respond to the consultation have until 16 April 2014 to do so.