Receipt of the S120 Notice
Section 120 notice
Information to provide with the Section 120 notice 

Produce and monitor project plan and budget
See details in the Management Tools section.

Cancel the contracting out certificate, if appropriate
HMRC Guidance on Contracting Out (Please refer to chapter 5.)

Reduce existing pension payments during assessment
Calculate compensation levels for all and ensuring benefits are paid at Pension Protection Fund compensation levels.

Financial Management section and Financial Management Appendix

Review ill health pensions
Consider ill health reviews section of Data Audit page
Outstanding ill-health review awards

Review admissible rules
Review the section or scheme rules to establish which are admissible (as this is central to paying benefits at Pension Protection Fund levels) section. See Financial Management section and Financial Management Appendix

Obtain a set of audited accounts to support the section 143 valuation
Accounting Guidelines

Conduct a benefit and data audit
Data Audit section
Template log for providing an audit trail of all the actions taken

Notify the PPF of any significant changes in the investment of scheme assets or expenditure incurred by the scheme
About PPF Investment
Template for providing PPF with investment valuation updates

Produce a section 143 valuation
Actuarial Valuation section
Section 143 Valuation Guidance

Data transfer
Data Audit section
Guidance on the Data Interface Layout

Guidance for Overfunded Schemes - Applications for Reconsideration and Closed Scheme Authorisation
This document is intended to provide guidance for trustees when making an application for reconsideration under section 151 and/or an application for closed scheme status under section 153 of the Pensions Act 2004