The Pensions Research Accountants Group (PRAG) has published an invitation to comment on its proposed amendments to the Statement of Recommended Practice, Financial Reports of Pension Schemes 2025 (Pension SORP).
2026 has been a busy year for
the various bodies responsible for developing and maintaining SORPS, as they seek to align their SORPs to FRS 102, and the changes effective on 1 January 2026. PRAG is the Financial Reporting Council’s (FRC) designated SORP-making body for pension schemes.
The Pensions SORP was last updated in 2018 and since then, the FRC has made amendments to its FRS 102 Standard. There have also been several industry developments which impact on pension scheme financial reporting as well as changes to pensions legislation and regulations.
Some documents of interest issued as part of the invitation to comment include;
The Invitation to comment remains open until 17 September 2025.
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