The Joint Expert Panel (JEP) has issued a second call for evidence as part of the second phase of its work.
The panel is currently considering how the long-term sustainability of the scheme can be secured, including:
- Developing an approach to future valuations that is clear (and clearly understood by stakeholders) and which can deliver both a sustainable scheme and a shared set of principles.
- An exploration of different paths to the valuation of technical provisions and other aspects of the valuation methodology, including Test 1.
- Considering questions of risk sharing, including adopting a different approach to contributions (which could, in turn address issues of intergenerational fairness and equality); examining further the question of mutuality and the question of employer appetite for risk; and the potential for risk sharing.
The panel is particularly interested in hearing views and evidence on principles that could be adopted by the stakeholders to underpin an approach to future valuations; issues relating to supporting the long-term sustainability of the scheme; and approaches to the valuation methodology. Respondents should feel free to respond to all three parts of the call for evidence or any one part.
Submissions on the above matters or comments for the attention of the panel are warmly welcomed and should be sent by 14 June 2019 to submit@ussjep.org.uk.
Download the full call for evidence below.
