The Occupational Pension Schemes (Modification of Schemes) Regulations (Northern Ireland) 1997

Certification requirement in respect of a power which would or might affect any entitlement or accrued right

3.—(1) For the purposes of Article 67(4)(a) (certification requirements in respect of any power conferred on any person by an occupational pension scheme to modify that scheme) the prescribed requirement is that an actuary shall certify to the trustees of the scheme that, in his opinion, the exercise of the power in the proposed manner to modify the scheme would not adversely affect any member of the scheme (without his consent) in respect of his entitlement, or accrued rights, acquired before that power is exercised.

(2) The reference to an actuary in paragraph (1) means—

(a) in a case where the requirement of Article 47(1)(b) (appointment of professional advisers) applies, the individual appointed by the trustees or managers as actuary in accordance with the requirements of Article 47;

(b) in any other case—

(i) a Fellow of the Institute of Actuaries;

(ii) a Fellow of the Faculty of Actuaries; or

(iii) a person with other actuarial qualifications who is approved by the Department.