The Department of Social Security (DSS) has rejected a request by the National Association of Pension Funds (NAPF) for a private consultation on the Minimum Funding Requirement (MFR).

The DSS received proposals for reforming the MFR from the Faculty and Institute of Actuaries on May 31. Details of the proposals have not been released to the public and a DSS spokeswoman said Jeff Rooker, the pensions minister, was considering the report. 'We will start the consultation process shortly, but even the method of consultation has not been decided yet,' she said.