You’ll need to certify your deficit reduction contributions on TPR’s Exchange by the end of April.
You can certify with Option Alpha or Option Beta
There are two ways you can certify these deficit reduction payments:
Option Alpha – with an actuarial certificate
This option is available to all schemes. You’ll need a certificate from an actuary to certify the basis on which the calculation was carried out. Any qualified actuary can provide this – it doesn’t have to come from your scheme actuary.
Option Beta – with self-certification
If you’re a smaller scheme with less than £10 million in liabilities and have made payments as part of a recovery plan, then a scheme trustee or company director may be able to complete the certification, if the amount certified does not exceed £1 million.
If the amount certified is over this limit, or if you’re certifying special contributions not included in the recovery plan, then your scheme actuary must carry out the certification.
How to self-certify under Option Beta
Find out if you’re eligible to self-certify and how to go about it.