Member

This amendment would require the publication of key assumptions, the rationale for the level of prudence applied, comparisons with previous valuations, and clear explanations where assumptions are strengthened. It would also allow the Secretary of State to issue guidance on proportionality and consistency without centralising control or interfering with professional judgment. Taken together, these amendments form a coherent response to a system that has drifted towards excessive conservatism without sufficient clarity, justification or accountability. They do not prescribe outcomes or weaken the scheme. They simply require clarity of purpose, transparency over trade-offs and alignment between actuarial practice and the economic reality of an open public sector pension scheme.