Money matters
The information on this page is a summary of the Trustee’s formal Report & Accounts for the year to 31 December 2024.
If you would like to see the full report, you can view it online at https://online.flippingbook. com/view/47529/
The information is independently audited, giving you reassurance that the Scheme’s assets are being properly managed. Ins and outs This table shows the money going into and coming out of the Scheme over the year to 31 December 2024. £000’s Value of the fund at 1 January 2024 1,582,283
Income Company contributions
0
Total income
0*
Expenditure Benefits paid
(71,084) (1,798) (2,685) (75,567)
Transfers to other plans Administrative expenses
Total expenditure
Net returns on investments
(64,576)
Value of the fund at 31 December 2024
1,442,140
Any figures shown in brackets are negative amounts. *No contributions were payable in the year, primarily because the Scheme funding level exceeded the threshold for the Company to reimburse the Scheme for the Pension Protection Fund levy paid and pay contributions towards the Scheme’s expenses.
Our membership This chart shows the breakdown of the Scheme’s membership as at 31 December 2024. The Scheme was closed to future benefit accrual on 31 March 2020, so any active members at that time became deferred members from that date.
Deferred members 3,375 Pensioners (including dependants) 5,219
Total 8,594
8
Made with FlippingBook - professional solution for displaying marketing and sales documents online