Consultation outcome
Proposed assumptions for contracted-out rebates for 2012 to 2017
Read the full outcome
Detail of outcome
The final oucome has been published in the “Review of rebates and reduced rates of National Insurance contributions for members of defined benefit contracted-out pension schemes”.
Original consultation
Consultation description
The Government Actuary’s Department is pleased to publish a consultation document on the proposed assumptions to inform my advice on the calculation of contracted-out rebates for the period 2012 to 2017.
The abolition of contracting-out on a defined contribution basis means that the focus of this consultation is on the defined benefit rebate.
We are consulting on the actuarial assumptions which might be used on 3 alternative approaches: * a ‘best estimate’ basis, * a ‘typical funding’ basis, and * a ‘gilts’ basis.