PART 2Administration

Actuarial valuations

F1Revision of rates and adjustments certificate: Scheme employer contributions61A

1

An administering authority may obtain a revision of the rates and adjustments certificate under regulation 60 (actuarial valuations of pension funds) showing any resulting changes to the contributions of a Scheme employer or employers where—

a

the funding strategy mentioned in regulation 56 (funding strategy statement) sets out the administering authority’s policy on amending contributions between valuations; and

b

one of the following conditions applies—

i

it appears likely to the administering authority that the amount of the liabilities arising or likely to arise has changed significantly since the last valuation;

ii

it appears likely to the administering authority that there has been a significant change in the ability of the Scheme employer or employers to meet the obligations of employers in the Scheme; or

iii

a Scheme employer or employers have requested a review of Scheme employer contributions and have undertaken to meet the costs of that review.

2

In revising the certificate, an administering authority must—

a

consult the Scheme employer or employers; and

b

have regard to the views of an actuary appointed by the administering authority.