xmlns:atom="http://www.w3.org/2005/Atom"
Introductory Text
Preliminary
1.Citation and commencement
2.Interpretation
Valuation of assets and liabilities
3.Determination, valuation and verification of assets and liabilities: general
4.Determination and valuation of assets
5.Rights under insurance contracts
6.Excluded assets
7.Determination and valuation of liabilities
8.Further provisions as to valuation: methodology, assumptions, etc.
9.Valuations by reference to future dates and periods
Minimum funding valuations
10.Time limits for minimum funding valuations
11.Duty to obtain minimum funding valuations following events with significant effects on funding
12.Duty to obtain minimum funding valuations where new serious underfunding suspected
13.Duty to obtain minimum funding valuations: s.75 debts in multi-employer schemes
14.Minimum funding valuation statements
Schedules of contributions and certification
15.Time limits for preparing and revising schedules of contributions
16.Periods covered by schedules of contributions
17.Content and certification of schedules of contributions
18.Occasional and periodic certification of adequacy of contributions
19.Records
Inadequate contributions
20.Minimum funding valuations showing serious underprovision
21.Failure reports
22.Methods of securing shortfall in cases of serious underprovision
23.Failure to pay contributions due under schedule of contributions
24.Modification of shared cost schemes
Authority’s powers to extend periods for making payments
25.Extension of contribution period
26.Extension of period for meeting serious shortfalls
27.General extensions in exceptional circumstances
Exemptions
28.Exemptions
Modifications for special cases
29.Modifications
Ongoing actuarial valuations
30.Ongoing actuarial valuations and statements
Signature
SCHEDULE 1
MINIMUM FUNDING VALUATION STATEMENTS
PART I THE ACTUARY’S STATEMENT
1.Each minimum funding valuation must contain a statement made by...
2.Subject to the following paragraphs, such a statement must be...
3.If the actuary is of the opinion that on the...
4.If the actuary is of the opinion that on the...
5.If the actuary is of the opinion that on the...
6.At any time when section 73(3) has effect in relation...
SCHEDULE 2
CERTIFICATION OF SCHEDULES OF CONTRIBUTIONS
PART I CERTIFICATION
1.A certificate given in the case mentioned in section 58(6)(a)...
2.A certificate given in the case mentioned in section 58(6)(b)...
3.Where a certificate is given in a case where section...
4.Where a certificate is given in a case where section...
SCHEDULE 3
PERIODICAL CERTIFICATION OF CONTRIBUTIONS
1.A certificate given under regulation 18(1)(a)(i) in a case where...
2.A certificate given under regulation 18(1)(a)(ii) in a case where...
3.A certificate given under regulation 18(1)(a) in a case where...
4.If the actuary is of the opinion that no changes...
5.The statement mentioned in regulation 12(1) (duty to obtain minimum...
SCHEDULE 4
METHODS OF SECURING SHORTFALL IN CASES OF SERIOUS UNDERPROVISION
1.(1) In this Schedule— “relevant institution” means—
Appropriate letters of credit
2.(1) The employer may secure the whole or part of...
Designated deposit accounts
3.(1) The employer may secure the whole or part of...
Charges over unencumbered assets
4.(1) The employer may secure the whole or part of...
Expenses
5.Expenses incurred by the trustees or managers in connection with...
Valuation of increases secured as mentioned in this Schedule
6.(1) An increase in value secured by the method specified...
SCHEDULE 5
MODIFICATIONS
Multi-employer schemes
1.(1) Where a scheme in relation to which there is...
2.(1) In the application of section 58(4) to a scheme...
Frozen or paid-up schemes
3.In the application of sections 56 to 60 and these...
Schemes covering United Kingdom and foreign employment
4.(1) This paragraph applies where a scheme which applies to...
5.(1) This paragraph applies in any case where a scheme...
Schemes with partial government guarantee
6.Where such a guarantee has been given or such arrangements...
SCHEDULE 6
FORM OF ACTUARY’S STATEMENT: ONGOING VALUATIONS
Explanatory Note