The Firefighters' Pension Scheme Regulations (Northern Ireland) 2015

Actual deficits N.I.

136.—(1) Where, having taken into account the un-audited information, and any other relevant information available, it appears to the Department that the total amount likely to be payable out of the FPF in the relevant financial year exceeds the total amount likely to be paid or payable to the FPF in that year—

(a) where the likely deficit (“the un-audited deficit”) exceeds the total of any amount paid or payable to the scheme manager in relation to that year under of regulation 134(1) or (2) (estimated deficits) (“the regulation 134 total”), the Department must pay to the scheme manager the amount of the un-audited deficit less the regulation 134 total;

(b) where the un-audited deficit is less than the regulation 134 total, the amount of the regulation 134 total less the un-audited deficit is not payable under of regulation 134(1) or (2) and, if already paid, the scheme manager must repay that amount to the Department;

(c) where no amount was paid or payable by the Department to the scheme manager in relation to the relevant financial year under regulation 134(1) or (2), the Department must pay to the scheme manager the amount of the un-audited deficit; and

(d) any amount paid or payable to the Department in relation to that year under regulation 135(1) or (2), is not payable and, if already paid, the Department must repay it to the scheme manager.

(2) Where, having taken into account the audited information and any other relevant information available, it appears to the Department that the total amount paid or payable out of the FPF in the relevant year exceeds the total amount paid or payable into that FPF in that year—

(a) where the difference between those total amounts (“the audited deficit”) exceeds the total of any amounts paid (but not repaid or repayable) or payable to the scheme manager in relation to that year under paragraph (1)(a) or (c) or regulation 134(1) or (2) (“the un-audited total”), the Department must pay to the scheme manager the amount of the audited deficit less the un-audited total;

(b) where the audited deficit is less than the un-audited total, the amount of the un-audited total less the audited deficit is not payable under paragraphs (1)(a) or (c) or regulation 134(1) or (2) (estimated deficits) and, if already paid, the scheme manager must repay it to the Department ;

(c) where no amount was paid or payable by the Department to the scheme manager in relation to the relevant financial year under paragraphs (1)(a) or (c) or regulation 134(1) or (2), the Department must pay to the scheme manager the amount of the audited deficit, and

(d) any amount paid or payable to the Department in relation to the relevant financial year under regulation 135(1) or (2) or regulation 137(1)(a) or (c) is not payable and, if already paid, the Department must repay it to the scheme manager.

(3) Where the Department, or the scheme manager, as the case may be, is required to make a payment or repayment under paragraph (1), it must be made before the end of July in the financial year following the relevant financial year (“the second year”) or as soon as reasonably practicable thereafter.

(4) Where the Department or the scheme manager, as the case may be, is required to make a payment or repayment under paragraph (2), it must be made before the end of July in the financial year following the second year or as soon as reasonably practicable thereafter.