PTL Blog

Why the latest SORP deserves an F for Failure

Posted by Richard Butcher on Feb 10, 2016, 11:22:06 AM

The most recent SORP is both bonkers and impractical

F_for_failure.jpg

By now we’re all becoming familiar with the new accounting requirements in the most recent SORP – the ones that require us to value annuities and include them as both asset and liability on our pension scheme balance sheet.

I have a genuine practical problem with these – but I’ll come to that in a moment. Firstly, I should come off the fence and make it clear where I stand on this idea: It’s bonkers....

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Topics: Pensions, independent pension trustees

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