Buyout valuation

Total liabilities, excluding expenses of winding up

The buyout liabilities should be consistent with the benefits valued for technical provisions purposes, ie if some insured benefits have been excluded for technical provisions purposes, they should also be excluded from the buyout figures.

Please also note that if some insured benefits have been included in the technical provisions, the value of the insured benefits on the technical provisions basis should be included in the Part 3 Scheme funding assets.