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PRAG issues guidance on accounting for Guaranteed Minimum Pension equalisation

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05 Apr 2019

The Pensions Research Accountants Group (PRAG) has issued guidance on accounting for Guaranteed Minimum Pension (GMP) equalisation by pension schemes.

The guidance includes:

  • Accounting approach, presentation and disclosures with example disclosures in an appendix
  • Transfers in and out
  • Annuity buy ins/but-outs and longetivity swaps.
  • Audit implications

The guidance is available to members on the PRAG website. Our related Need to know publication is available here.

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