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