{
  "url": "https://openlegislation.uk/teachers-pensions-regulations-1997/regulation-G4",
  "json_url": "https://openlegislation.uk/teachers-pensions-regulations-1997/regulation-G4.json",
  "legislation": "uksi/1997/3001",
  "legislation_title": "The Teachers' Pensions Regulations 1997",
  "legislation_url": "https://openlegislation.uk/teachers-pensions-regulations-1997",
  "path": "regulation/G4",
  "kind": "regulation",
  "number": "G4",
  "heading": "Actuarial inquiries",
  "text": "The Government Actuary shall make an actuarial inquiry reporting on the position in relation to the account as at the end of the financial year ending with 31st March 2001 and at the end of every fifth subsequent financial year (“the financial year in question”).\n(2) The Government Actuary shall make a report on the inquiry to the Secretary of State as soon as practicable after the end of the financial year in question and the Secretary of State shall lay the report before each House of Parliament.\n(3) The report is to specify the percentage of the contributable salaries of persons entering pensionable employment on the first day of the next financial year at which contributions should be paid, during the period beginning on 1st April next following the date of the report and ending with 31st March next following the date of the next report (“the relevant period”), so as to defray the cost of the payments of the kinds described in regulation G3(a) to (f) that are likely to be made in respect of them.\n(4) The report is to state the amount by which, at the end of the financial year in question, the amount of the scheme assets exceeded or fell short of that of the scheme liabilities.\n(5) The scheme assets are—\n(a) the value of the employees' contributions receivable after the end of the financial year in respect of persons who at the end of that year were or had been in pensionable employment,\n(b) the value of employers' contributions in respect of such persons receivable after the end of the financial year, except any such supplementary contributions as are mentioned in paragraph (7),\n(c) the value of payments that would fall to be credited under regulation G2(4)(d) and (e) to the accounts for subsequent financial years, and\n(d) the actuarial value at the end of the financial year in question of the balance in the account.\n(6) The scheme liabilities are the payments to be made under these Regulations and in respect of pension increases under the Pensions (Increase) Act 1971 after the end of the financial year in question in respect of persons who at the end of that year were or had been in pensionable employment, except payments attributable to service before 1st June 1922.\n(7) If the report states that the amount of the scheme liabilities exceeded that of the scheme assets, it is to specify a rate (expressed as a percentage) at which, during the relevant period, supplementary contributions should be paid by employers of persons in pensionable employment so as to remove the deficiency within the period of 15 years beginning on 1st April following the date of the report.\n(8) If the report states that the amount of the scheme assets exceeded that of the scheme liabilities, it is to specify a rate (expressed as a percentage) at which, during the relevant period, the employers of persons in pensionable employment should receive a contribution rebate so as to remove the surplus within the period of 15 years beginning on 1st April following the date of the report.\n(9) The rate referred to in paragraphs (7) and (8) is to be expressed as a percentage of the contributable salaries from time to time of persons in pensionable employment; the percentage must either be or be a multiple of 0.05.\n(10) In this regulation “employees' contributions” and “employers' contributions” are to be construed in accordance with regulation G2(2) and (3) respectively.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "added",
      "affecting": "uksi/2000/665",
      "affecting_title": "The Teachers' Pensions (Amendment) Regulations 2000"
    },
    {
      "type": "amended",
      "affecting": "uksi/1999/607",
      "affecting_title": "The Teachers' Pensions (Amendment) Regulations 1999"
    },
    {
      "type": "am (10.1.2003)",
      "affecting": "uksi/2002/3058",
      "affecting_title": "The Teachers’ Pensions (Amendment) Regulations 2002"
    },
    {
      "type": "rev in pt (10.1.2003)",
      "affecting": "uksi/2002/3058",
      "affecting_title": "The Teachers’ Pensions (Amendment) Regulations 2002"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/3001/regulation/G4",
    "retrieved_at": "2026-10-29T11:40:26.186253+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."
}