Pensions Regulator launches new form for capturing recovery plan data

The Pensions Regulator has reviewed the information captured in the valuation summary form - the form that is sent to the regulator alongside a recovery plan - and has made some changes.

This will make it easier for the regulator to review recovery plans and will also bring the mortality information requested more in line with the scheme return. Our approach to regulating DB pensions remains unchanged.

The new form is available on the website from today:
http://www.thepensionsregulator.gov.uk/pdf/ValuationSummaryOct09.xls
and has already benefited from some informal pre-release testing from the actuarial profession.

We would like the pensions industry to transition to the new form as follows:

* For valuations with an effective date before 22 September 2008, please continue to use the current form. This remains available on our website:
http://www.thepensionsregulator.gov.uk/pdf/ValuationSummaryMarch07ai.xls

* For valuations with an effective date from 22 September 2008, we require the new form to be used if you are submitting this on or after 9 November 2009.

If you are submitting the form to us before 9 November, please use either form.

As advance notice, we are also improving the data collection process so that submissions of recovery plan documents will be online via Exchange rather than by email to customer support. We will contact you again with further details in early 2010.

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The Pensions Regulator
amediarelations@thepensionsregulator.gov.uk

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