The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations (Northern Ireland) 2010

Amendment of Schedule 1 to the 2005 Regulations

17.  In Schedule 1(1) to the 2005 Regulations (actuary’s certificate of total difference between scheme assets and liabilities and liability share debt of employer in a multi-employer scheme)—

(a) in the heading for “and Liability share debt of Employer in a Multi-Employer Scheme” substitute “[and Liability share debt of Employer in a Multi-Employer Scheme]”;

(b) in the certificate—

(i) in paragraph 1 (comparison of value of scheme assets with amount of scheme liabilities) for “assets in scheme” substitute “assets of the scheme”;

(ii) in paragraph 2 (multi-employer schemes: employer’s share of the difference on the liability share basis)—

(aa) in the heading for “2” substitute “[2”;

(bb) for “was [£z].” substitute “was [£z].][delete as appropriate]”;

(c) in the Notes—

(i) omit the third paragraph;

(ii) in the fifth paragraph for “updated actuarial assessment” substitute “updated liabilities assessment”;

(iii) after the last paragraph insert—

“The total amount of the employer’s debt will be the amount stated in paragraph 2 of the certificate plus any cessation expenses (as defined in regulation 2(1) of the Employer Debt Regulations). See regulation 6(1)(e)(ii) of the Employer Debt Regulations.”.

(1)

Schedule 1 was substituted by regulation 13 of S.R. 2008 No. 132