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The Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 1996

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This is the original version (as it was originally made).

Occasional and periodic certification of adequacy of contributions

18.—(1) The trustees or managers of an occupational pension scheme to which section 56 applies must, not earlier than 21 days before and not later than 21 days after each anniversary of the relevant date of the last certificate under section 58 of the rates of contributions shown in the schedule of contributions for the scheme, obtain a certificate prepared by the actuary of the scheme—

(a)stating whether or not in his opinion the contributions payable towards the scheme are adequate for the purpose of securing—

(i)in a case where it appears to him that the minimum funding requirement is met, that it will continue to be met throughout the remainder of the schedule period which is current on the relevant date of the certificate, or

(ii)otherwise, that it will be met by the end of that period; and

(b)indicating any relevant changes since that valuation was prepared.

(2) Schedule 3 makes further provision about certificates under this regulation.

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