Pension Funds Accounts

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Presentation transcript:

Pension Funds Accounts 2009-10 John Wood Head of Financial and Commercial Services

Revenue Accounts 2009-10 (1) 2008-09 2009-10 Payments IN 138.1 147.5 2008-09 2009-10 £m £m Payments IN 138.1 147.5 Payments OUT 111.8 125.4 Net Revenue IN 26.3 22.1

Revenue Accounts 2009-10 (2) 2008-09 2009-10 Net Revenue IN 26.3 22.1 2008-09 2009-10 £m £m Net Revenue IN 26.3 22.1 Transfers IN 8.2 15.2 Transfers OUT 5.4 21.2 Net Revenue Total 29.1 16.1

Net Assets £m 2008-09 1,688.4 2009-10 2,389.7 Change 701.3 41.5%

Percentage breakdown by investment type

Fund returns by major asset class

Pension fund investment returns

Equity Market over 10 years

Fund performance vs actuaries assumptions 2007-2010

Actuarial Strain and International Financial Reporting Standards

Actuarial Strain Actuarial Strain occurs where: A retirement pension is brought into payment early A payment is made to the Pension Fund by the Employer to cover the additional costs to the fund for early payment

Actuarial Strain Employers are required to pay the amount to the Fund: In a lump sum; or in some cases Over a period of 3 to 5 years. Where instalments have been agreed there may be a need to recognise all of the costs at the point of retirement within the Employer’s accounts. Final guidance is awaited from CIPFA on the treatment of these costs.

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