6 February 2026
Following a consultation, the Financial Reporting Council (FRC) has confirmed that no changes will be made to the actuarial assumptions in Actuarial Standard Technical Memorandum 1 (AS TM1). This is an actuarial standard that supports actuarial practitioners in the UK to calculate Statutory Money Purchase Illustrations.
The FRC conducts annual reviews of AS TM1. AS TM1 v5.2, published 6 February, comes into effect from 6 April 2026. It contains minor wording amendments relating to fund volatility calculation dates.
Read the FRC’s consultation feedback statement