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Actuarial advice (Stakeholders in a pension scheme (Members, Members'…
Actuarial advice
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Factors to consider when giving actuarial advice (but where the responsibility for the decision lies with the client)
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Set out and explain the implications of each alternative solution, whether the solution is recommended or not
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Materiality
Something is material if, at the time the work is performed, the effect of a departure from the TAS requirements (or the combined effect if there is more than one departure) could influence the decision to be taken by the users of the resulting actuarial information
This means that a principle in a TAS can be ignored if it is felt that its inclusion would not have a material effect on a decision
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