Local Government Pension Scheme Regulations (Northern Ireland) 2000

Actuary’s certificates

L4.—(1) The Committee shall, as soon as is reasonably practicable after obtaining a valuation from an actuary under regulation L3(1) or (4), obtain from him a certificate specifying—

(a) the common rate of employer’s contribution, and

(b) any individual adjustments,

for each year of the period of three years beginning with 1st April in the following year.

(2) For the purposes of paragraph (1), the common rate of employer’s contribution is the percentage of the remuneration of its employees who are members which should in the actuary’s opinion be paid to the fund by all bodies whose employees contribute to it so as to ensure its solvency, having regard—

(a) to the existing and prospective liabilities of the fund arising from circumstances common to all those bodies, and

(b) to the desirability of maintaining as nearly constant a rate as possible.

(3) An individual adjustment is any percentage or amount by which in the actuary’s opinion contributions at the common rate should in the case of a particular body be increased or reduced, having regard to existing or prospective liabilities of, or of benefits accruing to, the fund arising from circumstances peculiar to that body.

(4) Immediately the Committee receives a certificate under this regulation it shall send a copy of it—

(a) to the Department,

(b) to each body whose employees contribute to the fund, and

(c) to any other body which is or may become liable to make payments to the fund in respect of pensions.