View source for Statutory surplus basis

''Pensions''. 

Historically, statutory liability valuation basis specified under the Income and Corporation Taxes Act 1988 for the purposes of determining whether a scheme’s assets exceeded 105% of past service liabilities and therefore whether a proposal to reduce the surplus was required.  
The prescribed basis was considerably more stringent than a typical valuation basis.  

Was sometimes known as the ‘Government Actuary’s Basis’.

Under pensions legislation this requirement has been discontinued.


== See also ==
* [[Valuation basis]]