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APS—Actuarial Professional Standard (issued by the IFoA). |
DB—defined benefit, including final salary. |
DC—defined contribution (or “money purchase”). |
FRC—Financial Reporting Council (assuming responsibility for the Board for Actuarial Standards in July 2012). |
GN—Guidance Note, formerly issued by the IFoA or its predecessor bodies. |
IFoA—Institute and Faculty of Actuaries. |
OPS—occupational pension scheme. |
PA—Pensions Act. |
PPF—the board of the Pension Protection Fund, established under the Pensions Act 2004. |
PSA— Pension Schemes Act. |
rules—the provisions (e.g. trust deed and rules) governing an occupational pension scheme. |
rules actuary—a person appointed as an actuary for the purposes of a scheme under its rules. |
S75 debt—a debt on the employer arising under Pensions Act 1995, s.75. |
scheme actuary—the individual who is a qualified actuary appointed by the trustees under Pensions Act 1995, s.47. |
TAS—Technical Actuarial Standard (issued by the FRC). |
third-party actuary—an actuary advising a person other than the trustees (e.g. an employer, member or other third party). |
TPR— The Pensions Regulator, established by the Pensions Act 2004. |
trustee actuarial adviser—a person (including a company or firm) appointed by the trustees to advise on actuarial matters under Pensions Act 1995, s.47. |
trustees—the trustee or trustees of an OPS (which can include a single corporate trustee). |