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Pensions Act 2004

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No versions valid at: 20/06/2005

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Point in time view as at 20/06/2005. This version of this provision is not valid for this point in time. Help about Status

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Pensions Act 2004, Section 230 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Valid from 04/12/2005

230Matters on which advice of actuary must be obtainedE+W+S

This section has no associated Explanatory Notes

(1)The trustees or managers must obtain the advice of the actuary before doing any of the following—

(a)making any decision as to the methods and assumptions to be used in calculating the scheme’s technical provisions (see section 222(4));

(b)preparing or revising the statement of funding principles (see section 223);

(c)preparing or revising a recovery plan (see section 226);

(d)preparing or revising the schedule of contributions (see section 227);

(e)modifying the scheme as regards the future accrual of benefits under section 229(2).

(2)Regulations may require the actuary to comply with any prescribed requirements when advising the trustees or managers of a scheme on any such matter.

(3)The regulations may require the actuary to have regard to prescribed guidance.

Prescribed guidance” means guidance that is prepared and from time to time revised by a prescribed body and, if the regulations so provide, is approved by the Secretary of State.

(4)Where subsection (1) is not complied with, section 10 of the Pensions Act 1995 (civil penalties) applies to a trustee or manager who has failed to take all reasonable steps to secure compliance.

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