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Actuarial certificate of deficit-reduction contributions

Effective date

If this certificate relates to a post transfer valuation that is yet to be submitted, the effective date of that valuation must be provided. In order for deficit-reduction contribution certificates to be included in the PPF levy calculations they must contain the exact effective date of the S179 Valuation, Post-Transfer Valuation (or exceptionally MFR valuation) that will be used to calculate the scheme's levy. Other than for Post-Transfer Valuations, this will generally be the valuation on Exchange immediately prior to the start of the levy year, i.e. at midnight on 31 March 2017 for the 2017/18 levy year. The effective date of the relevant valuation should be entered, rather than the date of the accounts on which the S179 is based.

Submitting the Deficit-Reduction Contribution certificate

A “permitted alternative method” (see A2.2(6) of the Determination) for submitting the information required in a Deficit-Reduction Contributions certificate, is that duly appointed substitutes can submit Deficit-Reduction Contributions certificates on Exchange on behalf of the individuals specified in paragraph 1 of the DRC Appendix (however the relevant certifications must still initially be approved by the individuals specified in that paragraph 1). Schemes should keep records of the delegated authority and be prepared to share them with the PPF on enquiry.