PSI20.6.23 - Funding and Surpluses: Surpluses - General - Cases Working on Interim Documentation - AVRs and Certificates

(This archived guidance relates to HMRC discretionary practice before the 6th April 2006. For current guidance on Registered Pension Schemes see the Registered Pension Schemes Manual)

[PN13.20]

The legislation and regulations set certain time limits in which action relating to excessive surpluses must be taken and so it is important to deal promptly with actuarial matters. Reports or certificates in respect of actuarial valuations on the prescribed basis for self-administered schemes or insured schemes whose policies do not take account of surpluses should be referred to SFS with the relevant file if the surplus is more than 5% of the liabilities.

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