Paragraph 3 I1

England, Wales and Scotland

The apportionment fraction is—

\frac{\frac{A}{B} \times (C + D) - E}{C}

, where—

A is the value at the relevant date of the accrued actuarial liabilities of the fund which relate to the persons changing funds on that date,
B is the value at the relevant date of all accrued actuarial liabilities of the fund;
C is the value at the relevant date of the transferable assets of the fund minus any sums then due from the fund,
D is the value at the relevant date of any adjustments to be made in consequence of a certificate under regulation P6(1)(b) to sums (other than sums then due to the fund) to be contributed to the fund under regulation P7(1), and
E is the value at the relevant date of the part (if any) of those adjustments which relates to the persons changing funds on that date.

Annotations