UTC (UK) Pension Scheme - Member Newsletter 2023

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:


Value of the fund at 1 January 2022


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


Net returns on investments

Value of the fund at 31 December 2022


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


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