STRATHCLYDE PENSION FUND ANNUAL GENERAL MEETING 14 JUNE 2013.

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Presentation transcript:

STRATHCLYDE PENSION FUND ANNUAL GENERAL MEETING 14 JUNE 2013

2012/13 Overview Lynn Brown, Executive Director of Financial Services Glasgow City Council Lynn Brown, Executive Director of Financial Services Glasgow City Council

Welcome 2012/13 Overview Financial Report Investment Report Responsible Investment Administration Report AGENDA Actuarial Report Session 2 – Administration & Liabilities Session 1 – Finance & Assets

Auto Enrolment /Public Service Pensions Act 2013

TEXT

Financial Report Paul Murphy, Finance Manager, Glasgow City Council Paul Murphy, Finance Manager, Glasgow City Council

AGENDA  2012/13 Annual Accounts  5 Year Trends  Future Cash Flows

2012/13 Annual Accounts 2011/ /13 £000 FUND INCOME £ ,001Contributions receivable from employers330,525 66,707Additional contributions from employers51, ,807Contributions receivable from employees107,683 7,249Transfers in6,798 1,126Other income , ,624 FUND PAYMENTS 320,557Pensions346, ,572Lump sums106,820 1,243Refund of contributions648 11,083Transfers out15, State scheme premiums127 4,376Administrative and other expenses borne by the Fund4, , ,542 43,122Net addition from dealings with members23,082

2012/13 Annual Accounts 2011/ /13 £0RETURNS ON INVESTMENTS £ ,467Investment income166,634 (13,459)Investment management expenses(11,829) (4,471)Overseas tax(3,932) (49,146)Change in market value of investments1,443,886 87,391Net returns on investments1,594, ,513Net movement in the Fund during the year1,617,841 ADD 11,320,372Opening net assets as at 1st April11,450,885 EQUALS 11,450,885Closing net assets as at 31st March13,068,726

2012/13 Annual Accounts – Net Assets 2011/ /13 £000 INVESTMENT ASSETS £000 4,847,605Equities5,955,464 5,104,115Pooled Investment Vehicles5,693, ,002Derivative Contracts ,450Property832, ,842Cash and Other469,846 11, ,951,900 (416,372)Investment liabilities(19,787) 156,127Current Assets170,833 (29,884)Current Liabilities(34,220) 11,450,885Net Assets13,068,726

Member Contributions £m

Employer Contributions £m

Employers Additional Contributions/ Augmentation £m

Total Income from Members and Employers £m

Benefits Payable – Commutation of Pensions and Lump Sum £m

Benefits Payable - Pensions £m

Total Expenditure from Dealing with Members £m

Net Additions from Dealing with Members £m

Investment Income £m

Net Increase (Decrease) in the Fund £m

Closing Net Assets of the Fund £m

Cash Flow for 2012/13 to 2022/23

Future Cash Flows