New Survey Launch | 2020 Accounting for Pensions Survey
In our third annual accounting survey, we consider the current process for the annual pensions reporting cycle and call for improvements on the way that advisors and auditors interact and share information. We hope to create a more streamlined experience to help clients complete their reporting for pensions in a more efficient manner.
Our key highlights include:
- We assess the significant increase in the difference between the reported value of pension obligations and the generally much higher cost of funding them under UK regulations - the Accounting Gap.
- We provide comprehensive benchmarking of the financial and demographic assumptions used by a wide range of over 150 of XPS clients ranging from £10m to over £2bn by asset size.
- We explore how assumptions have been evolving over the last year, including the narrowing gap between RPI and CPI inflation and the increasing detail needed to set future mortality improvements.