Actuarial methods and assumptions for purposes of funding level
This section has no associated Explanatory Memorandum
8.—(1) In specifying the funding level they intend the scheme to have achieved as at the relevant date, the trustees or managers of the scheme must follow the requirements in paragraph (2).
(2) The requirements are that they must—
(a)use an accrued benefits funding method, and
(b)calculate the liabilities of the scheme on a low dependency funding basis.
(3) Subject to paragraphs (1) and (2), it is for the trustees or managers of a scheme to determine which methods and assumptions are to be used in specifying the funding level they intend the scheme to have achieved as at the relevant date.