The Firefighters’ Pension Scheme Regulations (Northern Ireland) 2015

Estimated surpluses

135.—(1) Where, having taken into account the estimate, and any other relevant information, it appears to the Department that the total amount likely to be paid into the FPF in the relevant financial year will exceed the total amount likely to be payable out of that FPF in that year, the Department must require the scheme manager to pay to the Department an amount equal to 80% of the likely surplus.

(2) Where, having taken into account any revised estimate and any other relevant information available, it appears to the Department that—

(a) the total amount likely to be paid into the FPF in the relevant financial year will exceed the total amount likely to be payable out of the FPF in that year; and

(b) 80% of the likely surplus is more than—

(i) the amount paid or payable by the scheme manager to the Department under paragraph (1) in relation to the relevant financial year; or

(ii) where no such amount was paid or payable by the scheme manager, zero,

the Department may require the scheme manager to pay to the Department such amount as the Department may by notice in writing specify.

(3) Where the scheme manager has paid an amount to Department under paragraphs (1) and (2), the total of these amounts must not exceed 80% of the likely surplus of the FPF for that year.

(4) Where the Department requires the scheme manager to pay an amount under paragraph (2), any amount paid or payable by the Department to the scheme manager in relation to the relevant financial year under regulation 134(1) (estimated deficits) must not be paid, or if paid, the scheme manager must repay it.

(5) The Department must give to the scheme manager, on or before 3rd March of the relevant financial year, written notice of the amount of any payment or repayment that the Department requires the scheme manager to make under paragraph (1), (2) or (4).

(6) Where the scheme manager is required to make a payment under paragraphs (1) or (2) or to make a repayment under paragraph (4), the payments must be made before the end of the relevant financial year or as soon as reasonably practicable thereafter.