This session will explore the practical challenges of implementing principle-based reserving (PBR) for annuities, specifically focusing on registered index-linked annuities (RILA), variable annuities (VA), and fixed indexed annuities (FIA) under VM-21 and VM-22. Participants will learn about common implementation challenges and gain insights into key reserve drivers, the implications of the GOES scenario reform, and approaches for analyzing hedge margins and VM-22 scenario exclusion test eligibility.