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The Firefighters’ Pension Scheme (Wales) Regulations 2015

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Estimated surpluses

136.—(1) Where, having taken into account the estimate and any other relevant information, it appears to the Welsh Ministers 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 the FPF in that year, the Welsh Ministers must require the scheme manager to pay to the Welsh Ministers an amount equal to 80% of the likely surplus.

(2) Where, having taken into account any revised estimate and any other relevant information, it appears to the Welsh Ministers 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 Welsh Ministers 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 Welsh Ministers may require the scheme manager to pay to the Welsh Ministers such amount as the Welsh Ministers may by notice in writing specify.

(3) Where the scheme manager has paid an amount to the Welsh Ministers 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 Welsh Ministers require the scheme manager to pay an amount under paragraph (2), any amount paid or payable by the Welsh Ministers to the scheme manager in relation to the relevant financial year under regulation 135(1) (estimated deficits) must not be paid or, if paid, the scheme manager must repay it.

(5) The Welsh Ministers must give to the scheme manager, on or before 3 March of the relevant financial year, written notice of the amount of any payment or repayment that the Welsh Ministers require 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 payment or repayment must be made before the end of the relevant financial year or as soon as reasonably practicable thereafter.

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