The Occupational Pension Schemes (Scheme Funding) Regulations 2005

Content and certification of schedules of contributions

This section has no associated Explanatory Memorandum

10.—(1) A schedule of contributions must show the rates and due dates of all contributions (other than voluntary contributions) payable towards the scheme by or on behalf of the employer and the active members during the relevant period.

(2) In this regulation, “the relevant period” means the period of five years after the date on which the schedule is certified, or, in a case where—

(a)a recovery plan is in force, and

(b)the period set out in the recovery plan as the period within which the statutory funding objective is to be met is longer than five years after the date on which the schedule is certified,

that longer period.

(3) The schedule must show separately—

(a)the rates and due dates of contributions payable by or on behalf of active members of the scheme;

(b)the rates and due dates of the contributions payable by or on behalf of the employer, and

(c)if separate contributions to satisfy liabilities other than those referred to in regulation 3(2) which are likely to fall due for payment by the trustees or managers during the relevant period are made to the scheme, the rates and due dates of those contributions.

(4) Where additional contributions are required in order to give effect to a recovery plan, the rates and dates of those contributions must be shown separately from the rates and dates of contributions otherwise payable.

(5) The schedule must be signed by the trustees or managers of the scheme, and make provision for signature by the employer in order to signify his agreement to the matters included in it.

(6) The schedule must incorporate the actuary's certification, in the relevant form set out in Schedule 1.

Modifications etc. (not altering text)