The Firefighters’ Pension Scheme (England) Regulations 2014

Estimated surpluses

127.—(1) Where, having taken into account the estimate, and any other relevant information, it appears to the Secretary of State that the total amount likely to be paid into the FPF in the relevant financial year will exceed the total amount likely to be payable out of the FPF in that year, the Secretary of State must require the scheme manager to pay to the Secretary of State an amount equal to 80% of the likely surplus.

(2) Where, having taken into account any revised estimate and any other relevant information available, it appears to the Secretary of State that—

(a) the total amount likely to be paid into the FPF in the relevant financial year will exceed the total amount likely to be payable out of the FPF in that year; and

(b) 80% of the likely surplus is more than—

(i) the amount paid or payable by the scheme manager to the Secretary of State under paragraph (1) in relation to the relevant financial year, or

(ii) where no such amount was paid or payable by the scheme manager, zero,

the Secretary of State may require the scheme manager to pay to the Secretary of State such amount as the Secretary of State may by notice in writing specify.

(3) Where the scheme manager has paid an amount to the Secretary of State under paragraphs (1) and (2), the total of these amounts must not exceed 80% of the likely surplus of the FPF for that year.

(4) Where the Secretary of State requires the scheme manager to pay an amount under paragraph (2), any amount paid or payable by the Secretary of State to the scheme manager in relation to the relevant financial year under regulation 126(1) (estimated deficits) must not be paid, or if paid, the scheme manager must repay it.

(5) The Secretary of State must give to the scheme manager, on or before 3rd March of the relevant financial year, written notice of the amount of any payment or repayment that the Secretary of State requires the scheme manager to make under paragraph (1), (2) or (4).

(6) Where the scheme manager is required to make a payment under paragraphs (1) or (2) or to make a repayment under paragraph (4), the payment must be made before the end of the relevant financial year or as soon as reasonably practicable thereafter.