Public Service Superannuation Scheme Act

45. Actuarial valuation of the Fund

Edition: 2022-12-31 · In force

(1)The Fund shall be valued at intervals not exceeding five years by an actuary appointed by the Board.

(2)The actuary appointed under subsection (1) shall—

(a)prepare a report on the state of the Fund; and

(b)recommend any necessary action to be taken.

(3)The actuary shall submit the report prepared under subsection (2) to the Board.

(4)The Board shall within six months of the receipt of such report pay due regard to any recommendations made by the actuary and in so doing, may—

(a)increase or decrease the rates of contribution payable in respect of members; or

(b)take any other action recommended by the actuary.