Regulation 6 Pensions statement

(1)

The pensions statement procured by a person entering into an agreement or contract, under a requirement specified in accordance with regulation 3(2)(b)(i), must be obtained in writing from—

(a)

an individual appointed as actuary under section 47(1)(b) of the Pensions Act 1995^f1 for the relevant pension scheme;

(b)

a Fellow of the Faculty of Actuaries; or

(c)

a Fellow of the Institute of Actuaries.

(2)

The statement must certify—

(a)

that, to the extent that the principles can be applied, the person making the statement has formed the opinion contained in the statement having had regard to the “general principles” section of the document issued by C D Daykin, Government Actuary, on 26th May 1999 entitled “Assessment of broad comparability of pension rights – Statement of Practice by the Government Actuary”, and which is attached to the document published by Her Majesty’s Treasury in June 1999 entitled “Staff Transfers from Central Government: A Fair Deal for Staff Pensions”; and

(b)

that, in the opinion of the person making the statement, every relevant employee will, as an employee of the new operator, have the rights to acquire the pensions benefits prescribed in regulation 4.

(3)

For the purposes of this regulation, the “relevant pension scheme” means the pension scheme to which the relevant employee, as an employee of the new operator, will have a right to belong.

Annotations

Footnotes

f1: 1995 c. 26. Section 47 is amended by S.I. 2001/3649, article 142(1) to (3) and the Pensions Act 2004 (c. 35), section 319(1) and Schedule 12 paragraphs 34 and 53.