1. Pension Funds Accounts
John Wood Head of Financial and Commercial Services

2. Revenue Accounts 2009-10 (1) 2008-09 2009-10 Payments IN 138.1 147.5
£m £m
Payments IN
Payments OUT
Net Revenue IN

3. Revenue Accounts 2009-10 (2) 2008-09 2009-10 Net Revenue IN 26.3 22.1
£m £m
Net Revenue IN
Transfers IN
Transfers OUT
Net Revenue Total

4. Net Assets £m
,688.4
,389.7
Change %

5. Percentage breakdown by investment type

6. Fund returns by major asset class

7. Pension fund investment returns

8. Equity Market over 10 years

9. Fund performance vs actuaries assumptions 2007-2010

10. Actuarial Strain and International Financial Reporting Standards

11. 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

12. 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.

13. Questions?