Stress Test Data Framework Dictionary 2017: Version 02

Pensions_funding

The trustees’ funding basis, updated for market conditions at the reporting date. This is likely to be an estimated value, based on the current statement of funding principles, updated to reflect market conditions at the projection date, and does not necessarily reflect what the trustees and sponsor would agree if a triennial valuation had been held at that point. The treatment of schemes should be as consistent as possible with the FSA081, for example using the same naming convention for schemes and the same level of aggregation. (It is acceptable to aggregate smaller schemes together, but this should be consistent with the approach used in FSA081 and consistent across all tabs). For overseas schemes with no comparable 'funding' regime, please re-enter the accounting basis. This helps in the reconciliation to FSA081.

201702 PensionsRisk

Order Field Name Enumeration Definition
1 Pension scheme The name of a defined benefit pension scheme.
2 Pension funding basis class Pensionliabilityclass A classification scheme for assets and liabilities in a pension scheme.
3 Pension funding basis class value A monetary amount associated with the asset or liability class. For a specified liability class, this is the value calculated using the trustees’ funding basis, which is used to decide upon the employer contributions – most importantly the recovery plan. Please exclude any defined contribution liabilities or liabilities already backed by matching annuities from both the asset and liability classes. The sign convention is that both assets and liabilities are recorded as positive numbers, so that 'Assets' less the sum of 'Active', 'Deferred' and 'Pensioner' equals the surplus in the scheme on the trustees' funding basis.