Alan Hardie

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The assumptions - salary • Inflation plus “real salary growth” plus promotional salary scale • “Real salary growth” depends on - Industry - economic cycle - other macro economic factors • Company’s view on future salary growth PricewaterhouseCoopers
The assumptions - expected return on assets • Arguably the most subjective • Decided at beginning of year • For equities - discount rate plus Equity risk premium • For bonds - discount rate • For gilts - discount rate less risk premium for corporate bond? • For cash – current interest rate? • For property - discount rate plus risk premium? PricewaterhouseCoopers
Page 1 and 2: FRS17 Actuarial Assumptions Alan Ha
Page 3 and 4: The assumptions - discount rate •
Page 5: The assumptions - inflation • FRS
Page 9 and 10: FRS 17 Survey of Assumptions Price
Page 11 and 12: FRS 17 Survey of Assumptions Salary
Page 13 and 14: FRS 17 Survey of Assumptions Discou
Page 15 and 16: FRS 17 Survey of Assumptions Bond R
Page 17 and 18: FRS 17 Survey of Assumptions The
Page 19: PwC

Alan Hardie

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