Money matters
Each year, the Trustee arranges for a formal Report & Accounts to be prepared, showing how much money has gone into and out of the Scheme.
The information is audited so that members can be sure it accurately reflects the Scheme’s transactions over the year.
You can view the full report online at https://online. flippingbook.com/view/47529
This table summarises the key figures from the accounts for the year to 31 December 2022. Ins and outs The table below shows the money going into and coming out of the Scheme over the year:
£000’s
Value of the fund at 1 January 2022
2,562,829
Income Company contributions
3,363 3,363
Total income
Expenditure Benefits paid
(59,332) (35,606) (3,101) (98,039)
Transfers to other plans Administrative expenses
Total expenditure
(899,351)
Net returns on investments
Value of the fund at 31 December 2022
1,568,802
Note that any figures shown in brackets are negative amounts.
Our membership The chart below shows the Scheme’s membership at 31 December 2022. As of 1 April 2020, the Scheme was closed to future benefit accrual; therefore, all active members became deferred members of the Scheme from this date.
Deferred members 3,775 Pensioners (including Dependants) 4,989
Total 8,764
6
Made with FlippingBook - professional solution for displaying marketing and sales documents online