{
  "url": "https://openlegislation.uk/pension-scheme-surpluses-valuation-regulations-1987/regulation-11",
  "json_url": "https://openlegislation.uk/pension-scheme-surpluses-valuation-regulations-1987/regulation-11.json",
  "legislation": "uksi/1987/412",
  "legislation_title": "The Pension Scheme Surpluses (Valuation) Regulations 1987",
  "legislation_url": "https://openlegislation.uk/pension-scheme-surpluses-valuation-regulations-1987",
  "path": "regulation/11",
  "kind": "regulation",
  "number": "11",
  "heading": "Reduction and elimination of excess—special provisions",
  "text": "(1) This regulation prescribes for the purposes of Paragraph 6(4) modifications subject to which the provisions of Paragraph 6(3) are to apply for the reduction or elimination of the excess (within the meaning of that Paragraph).\n(2) (a) In the case of a scheme which has been in existence for less than 15 years the excess may be eliminated within a period of five years or by the end of 15 years from the commencement of the scheme whichever is the longer;\n(b) sub-paragraph (a) does not apply to a scheme established to provide benefits for some or all members of an existing or former scheme—\n(i) of the employer, or\n(ii) to which the employer concerned had made contributions.\n(3) Where a scheme has ceased to admit new members the excess may be reduced or eliminated over the period terminating with the end of the service of the last member.\n(4) Where a scheme, being the only scheme of an employer, has less than 30 members the excess may be reduced or eliminated over the period terminating with the end of the service of the last member.\n(5) Where in respect of a scheme to which this regulation applies the excess is being reduced or eliminated over a period in excess of 5 years, no payment under Paragraph 6(3)(a) shall be made to the employer unless a suspension of contributions would not reduce the excess to 5 per cent. or less of the value of the liabilities of the scheme.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/412/regulation/11",
    "retrieved_at": "2026-10-29T16:30:04.121054+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}