1.1 Subsection (5) of Section 3 of the House
of Commons Members' Fund Act 1939 requires an investigation into
the general financial position of the Fund to be made at intervals
of not more than five years. I have been asked to carry out an
actuarial valuation as at 30 September 2003.
1.2 The previous investigation related to
the position as at 30 September 2000. I now submit my report on
the investigation as at 30 September 2003. This report is addressed
to the Trustees of the Fund. As the House of Commons Members'
Fund does not relate to an occupational pension scheme, the requirements
of the actuarial profession's Guidance Note No. 9 are not applicable.