Paragraph 16 F1

(1)

Subject to sub-paragraph (2), this paragraph applies in each of the following circumstances—

(a)

where the actuary has been informed of any changes to—

(i)

the scheme rules, or

(ii)

the membership of the scheme (including changes to the remuneration of scheme members),

which the actuary thinks might affect the scheme’s ability to satisfy the statutory standard;

(b)

where, after estimated membership information has been used in accordance with paragraph 12, actual information becomes available about the members who have joined the scheme;

(c)

unless paragraph (a) or (b) applies, three years after the effective date;

(d)

three years after the date on which this paragraph (that is, paragraph 16 of this Schedule) last applied.

(2)

This paragraph does not apply where the scheme is no longer required to satisfy the statutory standard.

(3)

The actuary must consider whether there have been any changes which would prevent a reference scheme test certificate from being issued.

(4)

If—

(a)

there have been any changes referred to in sub-paragraph (3), and

(b)

no further changes have been made which the actuary considers would enable a reference scheme test certificate to be issued,

the actuary must inform in writing the trustees or managers of the scheme, Her Majesty’s Revenue and Customs and the employer.

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.