This call for evidence seeks to gather views on:

• whether the smoothing of assets and liabilities would be appropriate in schemes undertaking technical provisions (part 3) valuations, considering impacts on members, sponsoring employers and the Pension Protection Fund;
• how smoothing might be applied;
• whether a new statutory objective for the Regulator is necessary, or whether the appropriate considerations can be delivered under existing objectives, or alternatively whether other changes to the legislation are required.

Who this consultation is aimed at

Given the technical nature of pension valuations and the potential impacts of smoothing, feedback would be particularly welcome from trustees, sponsoring employers, actuaries and other pensions professionals. Members of the general public are also welcome to respond.