An issuer shall include the following information in addition to the information required under the relevant accounting standard in respect of pension schemes:
(1) a brief outline of how contributions are calculated or benefits funded;
(2) in the case of defined contribution schemes, details of whether forfeited contributions (by employers on behalf of employees who leave the scheme prior to vesting fully in such contributions) may be used by the employer to reduce the existing level of contributions and if so, the amounts so utilised in the course of the year and available at the date of statement of financial position for such use; and
(3) in the case of defined benefit plans, an outline of the results of the most recent formal independent actuarial valuation (which should be as at a date not earlier than 3 years prior to the date to which the listed issuer's financial statements are drawn up) or later formal independent review of the scheme on an ongoing basis. This should include disclosure of:—
(a) the name and qualifications of the actuary, the actuarial method used and a brief description of the main actuarial assumptions;
(b) the market value of the scheme assets at the date of their valuation or review (unless the assets are administered by an independent trustee in which case this information may be omitted);
(c) the level of funding expressed in percentage terms; and
(d) comments on any material surplus or deficiency (including quantification of the deficiency) indicated by (c) above.