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<p>Government consulted in 2013 on whether legislation should be introduced to allow
the ‘smoothing’ of asset values and liabilities in funding valuations.</p><p>Responses
to the call for evidence indicated that there was no strong case for legislating to
permit smoothing, with the overwhelming majority of respondents against this option.
Respondents instead favoured greater use of the flexibilities within the existing
legislation governing scheme funding.</p><p>In its response to the call for evidence
the Government advised that, given the views received, it did not intend to pursue
the option of legislating to permit asset and liability smoothing, and that remains
the Government’s position.</p>
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