Accounts overview
Each year the Trustee publishes its Annual Report and Accounts, which are audited by Crowe U.K. LPP.
Headlines
The value of the Scheme assets at 1 October 2022 -
£3.047 billion
The value of the Scheme assets at 30 September 2023 -
£2.588 billion
Benefits paid (Net) from 1 October 2022 to 30 September 2023* -
£119.2 million
Net returns on investments -
(£339.6) million**
The total number of members at 30 September 2023# -
15,446
*This includes the total pensions paid from the Scheme plus any lump sums paid either at retirement or following a member’s death, and transfers to other arrangements in the period from 1 October 2022 to 30 September 2023.
** The asset value has reduced over the year, mainly as a result of the rise in interest rates. This is not a concern as the value of the Scheme’s liabilities has also fallen and so it is consistent with the objectives of the funding and investment strategy to mitigate risk and maintain a stable funding position. See the Scheme’s Summary Funding Statement for further detail.
# This includes all Active, Deferred and Pensioner members (including Dependants receiving a pension following a member’s death) at 30 September 2023.
You can view or download the full audited Scheme’s Trustee Report and Accounts for the year ended 30 September 2023 from the Documents page on MyPension.