103(1)The “scheme actuary” is the person appointed by the Fund trustees in accordance with section 47(1)(b) of the Pensions Act 1995 (c. 26).
(2)The Fund trustees may obtain an actuarial report on the scheme at any time they think fit (and must do so at intervals of no more than 3 years).
(3)An actuarial report is to include—
(a)a report on the general financial position of the Pension Fund,
(b)an actuarial valuation of the Pension Fund’s assets and liabilities, and
(c)the scheme actuary’s recommended rate for future contributions under rule 32 (expressed as a percentage of participating member salary payments).
(4)The Fund trustees must lay a copy of each actuarial report before the Scottish Parliament within 3 months of obtaining it.