Paragraph 14 F1

(1)

For the purposes of carrying out the comparison under regulation 23, the actuary must use—

(a)

where a statement of funding principles has been prepared or revised for the scheme under section 223 of the 2004 Act (statement of funding principles), the actuarial assumptions in the most recent such statement, and

(b)

any other actuarial assumptions which the actuary considers necessary.

(2)

The actuarial assumptions referred to in sub-paragraph (1) must be used for valuing—

(a)

the pensions provided under the scheme, and

(b)

the pensions which would be provided under a reference scheme.

Annotations

Textual amendments

F1: Sch. 3 added (1.10.2011) by The Occupational Pension Schemes (Contracting-out) Amendment Regulations 2011 (S.I. 2011/1294), regs. 1(2), 2(3), Schs.