SCHEDULES

SCHEDULE 10Funding of defined benefit schemes

PART 1Amendments of Part 3 of the Pensions Act 2004

I1I23

1

Section 222 (the statutory funding objective) is amended as follows.

2

After subsection (2) insert—

2A

The scheme's technical provisions shall be calculated in a way that is consistent with the scheme's funding and investment strategy, as set out in the scheme's statement of strategy.

3

In subsection (3)(b), after “in a prescribed manner and” insert “ , subject to subsection (2A), ”.