PRAG issues guidance on accounting for Guaranteed Minimum Pension equalisation
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.
