Document ID: chunk:federal_register_of_legislation:F2013L01247:body:0:p6
Version: federal_register_of_legislation:F2013L01247
Segment Type: other
Provision Reference: 
Character Range: 13680–16464

and a statement as to whether or not the RSE actuary expects that an RSE actuary will be able to certify the solvency of the fund in any funding and solvency certificate required during the three-year period following the valuation date[16];

       (g)          recommendations as to the level of, or the rate at which, or the range of rates within which, employer contributions are to be made during the three-year period immediately following the valuation date;

       (h)          if the fund is paying a defined benefit pension to at least one defined benefit member of the fund, a statement of the RSE actuary's opinion on whether, at the valuation date, there is a high degree of probability that the fund will be able to pay the pension as required under the fund's governing rules; and

       (i)            a statement regarding the occurrence of a prescribed event, if a pre-July 1988 funding credit has been granted under section 342 of the SIS Act or has been obtained by transfer under Part 12 of the SIS Regulations, and an event prescribed under section 342(4)(a) of the SIS Act and listed in regulation 12.10 of the SIS Regulations has occurred.

    24.         An RSE licensee of a public sector superannuation scheme that, under its rules, is not fully funded must ensure that an actuarial report of an initial or regular investigation contains, at a minimum:

       (a)          the value of the assets of the fund at the valuation date, excluding any amount held to meet the ORFR;

       (b)          if the RSE actuary considers it appropriate, taking into account the proportion of the liabilities of the fund that are being funded, a statement recommending the level of, or the rate at which, or the range of rates within which, employer contributions to be made during the three-year period immediately following the valuation date. In preparing the statement, the RSE actuary must assess and comment on the appropriateness of the assumptions and valuation methods used to determine the accrued benefit liability;

       (c)          a statement regarding the adequacy of the funding of the liabilities of the fund, having regard to any Commonwealth, State or Territory guarantee in respect of benefit payments and to any appropriations in respect of the fund; and

       (d)          a statement regarding the occurrence of a prescribed event, if a pre-July 1988 funding credit has been granted under section 342 of the SIS Act or has been obtained by transfer under Part 12 of the SIS Regulations, and an event prescribed under section 342(4)(a) of the Act and listed in regulation 12.10 of the SIS Regulations has occurred.

    25.         An RSE licensee of a new defined benefit fund must ensure that, if the fund has no accrued defined