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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | agosto 2023
PASA’s Data Working Group has published guidance for DB schemes in relation to the correct administration procedures in the calculation of scheme benefits. It recommends using a “benefit specification document” for all types of benefit calculations, so that all stakeholders approve and use the same approach, thus reducing the risk of mistakes.
The document should cover the legal basis of benefit calculations under the scheme rules, as well as agreed “house practice” methods used, which may not be explicitly set out in the rules. Different documents may relate to different scheme sections or benefit bases. While benefit calculations are often automated, manual calculations will sometimes be needed where benefits are more complex.
Once completed, PASA recommends undertaking a regular review of the accuracy of benefits put into payment and a “benefits matrix” could help ensure a sufficient cross-section of the membership to give an accurate picture. An independent review and audit of the calculation process can ensure there is an objective view of the document’s effectiveness and could highlight any areas needing improvement.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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