Find out if you’re eligible to self-certify
If you’re a scheme with less than £10 million in liabilities and have made payments as part of a recovery plan, then you may not need an actuary to certify your DRCs. This process is known as Option Beta.
How do you certify under Option Beta?
If you’re looking to go down this route, then you'll need to confirm that:
- Your scheme liabilities don’t exceed £10 million and that the scheme has been closed to benefit accrual during the certification period
- All payments agreed under recovery plans have been made up to March of this year
- You’re a scheme trustee or company director, or you’ve been authorised to self-certify by one of these parties
- The amount you’re certifying is under £1 million and doesn’t include any special contributions which don’t appear in the recovery plan that a trustee has authorised you to self-certify
You can provide this information on Exchange – It must be done by the end of April.
Learn more about certifying deficit reduction contributions