156 Valuations of closed schemes
Pensions Act 2004 (2004 c 35) | Legislation

156  Valuations of closed schemes

(1)     Regulations may make provision requiring the trustees or managers of closed schemes to obtain actuarial valuations of the scheme at such intervals as may be prescribed for the purposes of enabling them to determine—

(a)     the benefits payable under the scheme rules;

(b)     whether to make an application under section 157.

(2)     Regulations under this section may prescribe how—

(a)     the assets, the full scheme liabilities and the protected liabilities in relation to closed schemes, and

(b)     their amount or value,

are to be determined, calculated and verified.

(3)     Subject to any provision made under subsection

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