On page 7, Chapter 15 of ST 4 where the AASCR and AAAL are discussed, mention is made of both “present members” and “all members” and “members in service”. Do the notes refer to all individuals current earning pension able service? Are all these definitions the same? Would one ever take into account “new members” for these definitions? Thank You Ruhan
The definitions "present member", "all members" and "members in service" in general are all refering to just the current active membership. This is because new entrants are usually not a big issue, since they are relatively small in number compared to the membership of the scheme and also valuations are carried out at regular intervals and new entrants are included in the calculation from that next valuation. I might however include new entrants in the SCR calculation if I knew the scheme was going to experience a large influx of new entrants (eg following a bulk transfer in).
