The Actuarial Profession has published two new Actuarial Profession Standards (APSs) for pensions actuaries: Version 1.0 of APS P1: Duties and responsibilities of pensions actuaries and version 1.0 of APS P2: compliance review:
To view the full Professional Standards Directory update please click here.
Both APSs are effective from 1 April 2011, and form part of the GN transitions project which will replace guidance notes (GNs) containing ethical material, with standards to complement the principles-based regime of the Board for Actuarial Standards’ (BAS) Technical Actuarial Standards (TASs).
APS P1 and APS P2 coincide with the effective date of the Pensions TAS which also commences on 1 April 2011.
Please see the full Professional Standards Directory update for details of BAS adopted GNs and APSs which are withdrawn from midnight on 31 March 2011.