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 draft Regulations provide that guidance may be published in relation to the valuations of assets and liabilities of relevant schemes and for individual asset shares to be calculated for scheme beneficiaries. This consultation seeks views on draft guidance in these areas.

The Government has also prepared guidance on how transferring schemes might deal with the impact of the guaranteed minimum pension on the equalisation (between men and women) of members’ expected pensions ahead of providing data to the FAS scheme manager. This consultation also seeks views on this ‘equalisation’ guidance.

The consultation is technical in nature and is primarily 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.