The draft Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010, laid before Parliament on 3 February 2010, include provision for the assets remaining in relevant FAS-qualifying schemes to transfer to government. The Government is taking this opportunity to consult on related changes to the FAS synthetic buy-out basis that seeks to provide an estimate of the amount of bulk annuity that could have been secured for a cash sum from an insurer. The basis was last reviewed early in 2008.

The consultation is primarily technical in nature and is aimed at pension industry professionals and others with an interest in defined-benefit occupational pension schemes However, Government would also welcome feedback from members who may be affected and their representatives. The consultation proposals apply to the United Kingdom.