SCHEDULE 5Systems and processes requirement

Valuation and benefit adjustment

13

Whether there are systems and processes—

a

for ensuring that the rules of the scheme meet the requirements of section 18 of the Act (calculation of benefits) and regulation 17;

b

for ensuring that the trustees comply with section 19(1) of the Act (advice of scheme actuary);

c

for establishing that the scheme actuary has complied with regulation 18;

d

for ensuring that the trustees obtain actuarial valuations in accordance with section 20 of the Act (actuarial valuations) and regulation 19;

e

for establishing that the scheme actuary has complied with section 21 of the Act (certificate that actuarial valuation prepared in accordance with scheme rules);

f

for complying with the requirements of section 22 of the Act (benefits adjustments), where applicable;

g

for responding to a direction given under section 23(2) of the Act (powers of the Pensions Regulator).