CARRIER (UK) PENSION SCHEME YEAR ENDED 31 DECEMBER 2020
NOTES TO THE FINANCIAL STATEMENTS
Contributions towards administrative expenses are payable at the rate of £360k pa whilst the Scheme assets do not exceed 105% of the Scheme liabilities at the latest 31 December funding update as certified by the Actuary. Contributions to cover the cost of life assurance premiums are also payable.
5 Benefits
2020
2019
2,286
2,086
Pensions
477
405
Lump sums on retirement
3
30
Lump sums on death
2,766
2,521
6 Payments to and on account of leavers
2020
2019
Individual transfers to other schemes
5,271
5,143
7 Administrative expenses
2020
2019
123 365
48
Administration and processing Actuarial and investment fees
267
18
10
Audit fees Legal fees PPF levy
105
135
90
72
1
1
Other expenses
702
533
8 Other payments
2020
2019
Term assurance premiums
6
24
9 Investment income
2020
2019
1,237
1,310
Income from bonds
3 4
49 31
Interest on cash deposits Other investment income
1,244
1,390
19
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