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Sources of surplus (Factors affecting treatment of surplus/ deficit…
Sources of surplus
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Use of surplus/ deficit
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risk management strategies may be adopted (e.g. change investment strategy, encourage option take up, use insurance, change basis)
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Actuarial surplus
The difference between the actuarial value of the assets and the actuarial liability.
Deficit (or underfunding)
Where a scheme has assets less than required by the funding plan for meeting the liabilities