Local Government (Superannuation) Regulations (Northern Ireland) 1992

Actuary’s certificates

P6.—(1) The Committee shall as soon as is reasonably practicable after obtaining a valuation under regulation P5 obtain from the same actuary a certificate specifying—

(a) in respect of all employing authorities the rate per cent which in his opinion, the amount of the employer’s contribution payable in each year of the period specified in paragraph (2) should bear to the total remuneration on which contributions will during that year be payable to the fund under regulations C1 and C2 by their employees, so that such rate shall at all times be as nearly constant as may be and so that the fund shall be solvent, having regard to the then existing and prospective liabilities of the fund arising from circumstances common to all employing authorities; and

(b) in respect of any such employing authority as may be named in the certificate, the amount (expressed as a rate per cent or in money terms) by which in his opinion the amount of the employer’s contribution should in any such year of the period mentioned in sub-paragraph (a) as is specified in the certificate be increased to take account of the then existing and prospective liabilities of the fund arising from circumstances peculiar to that employing authority or be reduced to take account of the then existing and prospective benefits accruing to the fund arising from such circumstances.

(2) The period referred to in paragraph (1) is the period of 3 years beginning with 1st April in the year following.

(3) Forthwith upon receiving a certificate under this regulation the Committee shall send a copy of it to the Department and to each body whose employees contribute to the fund.