sec.97Agency’s recommendation about levy

sec.97 Agency’s recommendation about levy

At least 5 months before the end of each financial year, the agency must— calculate, based on actuarial advice, the amount required to be contributed to the fund for the next financial year— to fully fund the present and likely future liabilities of the agency under chapter 2 , part 4 in the financial year, other than a liability relating to a person accepted as a participant in the scheme under section 13 (2) ; and to meet other payments required to be made from the fund in the financial year; and to cover any other matter the agency considers appropriate; and give a copy of the calculations to the commission; and give the commission a written recommendation about the amount of the levy for the next financial year.

• (a) calculate, based on actuarial advice, the amount required to be contributed to the fund for the next financial year— (i) to fully fund the present and likely future liabilities of the agency under chapter 2 , part 4 in the financial year, other than a liability relating to a person accepted as a participant in the scheme under section 13 (2) ; and (ii) to meet other payments required to be made from the fund in the financial year; and (iii) to cover any other matter the agency considers appropriate; and
• (i) to fully fund the present and likely future liabilities of the agency under chapter 2 , part 4 in the financial year, other than a liability relating to a person accepted as a participant in the scheme under section 13 (2) ; and
• (ii) to meet other payments required to be made from the fund in the financial year; and
• (iii) to cover any other matter the agency considers appropriate; and
• (b) give a copy of the calculations to the commission; and
• (c) give the commission a written recommendation about the amount of the levy for the next financial year.
• (i) to fully fund the present and likely future liabilities of the agency under chapter 2 , part 4 in the financial year, other than a liability relating to a person accepted as a participant in the scheme under section 13 (2) ; and
• (ii) to meet other payments required to be made from the fund in the financial year; and
• (iii) to cover any other matter the agency considers appropriate; and