Find out if you’re eligible to self-certify
Any scheme may be able to self-certify deficit reduction contributions (DRCs) without an actuarial certificate.
How do you certify under Option Beta?
If you’re looking to self-certify you'll need to confirm that:
- 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
- The amount you’re certifying doesn’t include any special contributions which don’t appear in the recovery plan that a trustee has authorised you to self-certify
Otherwise, if the total certified amount of deficit reduction contributions exceeds £1 million (which includes special contributions) then the scheme actuary must approve the certification.
The requirement for actuarial certification by the scheme actuary also applies to schemes which did not have a recovery plan in force at any time during the certification period or where the deficit reduction contributions includes special contributions not recorded in the recovery plan.
You can provide this information on Exchange – It must be done by the end of April.
Learn more about certifying deficit reduction contributions