Part 1: Collective Money Purchase Benefits Authorisation criteria Section 13: Viability report
This section requires the trustees of a collective money purchase scheme to produce a document (a viability report) explaining the design of the scheme and why they consider that design to be sound. They must also obtain a certificate from the scheme actuary (a viability certificate) certifying that, in the actuary’s opinion, the scheme design is sound.
	Under subsection (2) a viability certificate cannot be provided by the scheme actuary unless the scheme actuary is satisfied that the scheme has rules that are compliant with the requirements imposed by section 18 (Calculation of benefits) and any regulations under that section.
	Subsection (3) provides a power for the Secretary of State to make regulations, amongst other things, regarding the information to be included in a viability report, how the report and the certificate must be prepared and making provision about additional information or documents to be prepared or obtained in connection with a report.
	The trustees are also required at least annually to review the most recent viability report; if appropriate, revise it; and obtain a new viability certificate (subsection (4)). The trustees must also revise the report and obtain a new viability certificate in respect of the revised report, if the most recent viability report becomes inaccurate or incomplete to any significant extent (subsection (5)).
	The most recent viability report, viability certificate and any additional information or documents specified by regulations under subsection (3), must be submitted to the Regulator when applying for authorisation; within three months of revising the viability report and at any other time on request by the Regulator (subsection (6) and (7)).