The trustees or managers1 must prepare, and from time to time review and if necessary revise, a written statement of: (1) their policy for securing that the statutory funding objective2 is met; and (2) such other matters as may be prescribed3. This is referred to in Part 3 of the Pensions Act 20044 as a 'statement of funding principles'5. The statement must, in particular, record any decisions by the trustees or managers as to: (a) the methods and assumptions to be used in calculating the scheme's technical provisions; and (b) the period within which, and manner in which, any
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