Q&As

Do trustees have a right to call an actuarial valuation before the end of the three year interval?

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Published on LexisPSL on 02/05/2019

The following Pensions Q&A provides comprehensive and up to date legal information covering:

  • Do trustees have a right to call an actuarial valuation before the end of the three year interval?

Do trustees have a right to call an actuarial valuation before the end of the three year interval?

We refer you to Practice Note: Actuarial funding valuations, which explains that:

  1. under section 224 of the Pensions Act 2004 (PeA 2004), the trustees must obtain actuarial valuations at least once every three years (provided that annual actuarial reports are obtained in the intervening years)

  2. a pension scheme’s trust deed and rules may contain different provisions as to the frequency with which valuations are required, and

  3. the trustees may commission an ‘early’ full valuation, eg if there is a significant adverse change to the scheme’s funding levels

Significantly, nothing in the drafting

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