The Occupational Pension Schemes (Employer Debt) Regulations 2005

paragraph 2(a) of Schedule 1A

[F1 SCHEDULE 1C U.K. Actuary’s Certificate for Withdrawal Arrangement Share or Approved Withdrawal Arrangement Share in Multi-Employer Scheme

Textual Amendments

F1 Sch. 1B-1D substituted for Sch. 1B (6.4.2008) by The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2008 (S.I. 2008/731), regs. 2(1), 15, Sch. 3 (with reg. 2(3)-(8))

Given for the purposes of paragraph 2(a) of Schedule 1A to the Occupational Pension Schemes (Employer Debt) Regulations 2005 (“the Employer Debt Regulations”)

This certificate is subject to the Notes below

Name of scheme

Date used as the applicable time for purposes of calculations

1 Comparison of value of scheme assets with amount of scheme liabilities U.K.

In my opinion, at the applicable time, the value of the assets of the scheme was less than the amount of the liabilities of the scheme.

The amount of the total liabilities was [approximately]

The amount of the total difference between the value of the assets in the multi-employer scheme and the amount of the liabilities was [approximately]

2 Employer's withdrawal arrangements share or approved withdrawal arrangement share U.K.

[name of Employer]'s [approved] withdrawal arrangement share [after the relevant transfer deduction] [delete as appropriate] was

In the case of an approved withdrawal arrangement share, the amount A which applied for the purposes of determining [name of Employer]'s approved withdrawal arrangement share was

3 Valuation principles U.K.

   [F2 The scheme’s assets and liabilities are valued in accordance with—

(a) section 75(5) of the Pensions Act 1995, and

(b) regulations 5, 6[, 6C(3) and 7(5)] [delete as appropriate] of the Employer Debt Regulations.]

Textual Amendments

F2 Sch. 1C para. 3 substituted (6.4.2010) by The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2010 (S.I. 2010/725), regs. 1(2), 18(2)

[4 Approximations U.K.

With the agreement of the trustees or managers of the scheme, approximate calculations were used in arriving at the amount of the liabilities at [______] [specify] above.] [delete as appropriate]

Signature

Date

Name

Qualification

Address

Name of employer (if applicable)

Notes:

The references to-

"amount A" means the amount calculated in accordance with paragraph 4 of Schedule 1A to the Employer Debt Regulations;

"applicable time" means the time as at which the value of the assets of a scheme and the amount of the liabilities are to be determined, calculated and verified for the purposes of section 75 of the Pensions Act 1995;

"approved withdrawal arrangement share" means an amount that is-

(a) a cessation employer's share of the difference.

(b) less than amount A, and

(c) payable by a cessation employer pursuant to an approved withdrawal arrangement;

"multi-employer scheme" means a scheme (or a section of a scheme treated pursuant to regulation 8 of the Employer Debt Regulations as a separate scheme) in relation to which there is more than one employer;

[F3 “relevant transfer deduction” means the amount of the relevant transfer liabilities less the value of the corresponding assets;]

Textual Amendments

F3 Words in Sch. 1C substituted (6.4.2010) by The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2010 (S.I. 2010/725), regs. 1(2), 18(3)

"share of the difference" means the amount calculated as at the applicable time that is an employer's share of the total difference between the value of the assets and the amount of the liabilities of the scheme;

"withdrawal arrangement share" means an amount that is-

(a) a cessation employer's share of the difference.

(b) equal to or greater than amount A, and

(c) payable by a cessation employer pursuant to a withdrawal arrangement;

F4 ...

Textual Amendments

F4 Sch. 1C Notes omitted (6.4.2010) by virtue of The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2010 (S.I. 2010/725), regs. 1(2), 18(4)

The value of the assets was provided by the trustees or managers of the scheme by relying on an updated asset assessment, that they decided to use in accordance with the conditions in regulation 5(5) of the Employer Debt Regulations [delete as appropriate].

The liabilities were calculated and verified by relying on an [F5 updated liabilities assessment] which the trustees or managers of the scheme decided to use in accordance with the conditions in regulation 5(14) of the Employer Debt Regulations [delete as appropriate].

Textual Amendments

F5 Words in Sch. 1C substituted (6.4.2010) by The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2010 (S.I. 2010/725), regs. 1(2), 18(5)

Where approximate calculations are used in arriving at the amount of liabilities, the amount calculated on a more accurate basis may be significantly different.

The withdrawal arrangement share amount was reduced to reflect a relevant transfer deduction under regulation 6C(3) of the Employer Debt Regulations [delete as appropriate].

The approved withdrawal arrangement share was calculated by reference to an amount A which was reduced to reflect where the Authority permitted, under regulation 7(5) of the Employer Debt Regulations, a relevant transfer deduction to apply [delete as appropriate].

[F6 The total amount of the employer’s debt will be the amount of the (approved) withdrawal arrangement share stated in paragraph 2 of the certificate plus any cessation expenses (as defined in regulation 2(1) of the Employer Debt Regulations). See regulation 6(1)(e)(ii) of the Employer Debt Regulations.]]

Textual Amendments

F6 Words in Sch. 1C inserted (6.4.2010) by The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2010 (S.I. 2010/725), regs. 1(2), 18(6)