Publication - Statistics

Scottish Local Government Financial Statistics 2010-11

Published: 22 Feb 2012
ISBN:
9781780456492

A comprehensive overview of Local Authority financial activity

Scottish Local Government Financial Statistics 2010-11
5 - LOCAL GOVERNMENT PENSIONS

5 - LOCAL GOVERNMENT PENSIONS

KEY SUMMARY FACTS

  • Local Government Pension Fund expenditure in 2010-11 was £1.2 billion.
  • Local Government Pension Fund income in 2010-11 was £2.9 billion.

Local Government Pension Funds are operated as separate funds to other accounts. In accordance with the Local Government Pension Scheme (Scotland) Regulations 1998, employer and employee contributions are paid in to the fund along with income from investments, and pensions and other lump sum benefits are paid out of the fund. The income and expenditure from these funds are therefore separate from the income and expenditure of the Authorities that administer the funds.

Table 5.1 - Local Government Pension Funds Expenditure

£ thousands
2006-07 2007-08 2008-09 2009-10 2010-11
Total Benefits1 507,639 558,964 605,687 777,991 908,186
Payments under Pensions (Increase) Acts 105,058 116,036 131,641 63,035 61,537
Transfer Values 49,766 48,119 41,942 69,848 46,244
Premiums 814 967 4,775 1,442 1,359
Losses on Realisation of Investments 208,179 469,236 1,881,387 162,579 90,977
Refunds of Contributions 3,602 3,068 3,054 2,760 2,896
Adjustments -1,866 -1,900 -2,002 -2,434 -2,982
Other 56,557 66,597 61,695 60,086 63,336
TOTAL EXPENDITURE 929,749 1,261,087 2,728,179 1,135,307 1,171,553

1 - See table 5.2 for breakdown.

Table 5.2 - Local Government Pension Funds Expenditure on Benefits

£ thousands
Pensions Lump Sums Other Benefits Total Benefits
2006-07 388,589 117,146 1,904 507,639
2006-07 410,955 145,942 2,067 558,964
2008-09 429,290 174,095 2,302 605,687
2009-10 544,814 230,477 2,700 777,991
2010-11 574,929 330,251 3,006 908,186

Table 5.3 - Local Government Pension Funds Income

£ thousands
2006-07 2007-08 2008-09 2009-10 2010-11
Contributions (including those from other employing authorities) Employees 252,639 236,844 247,052 273,280 276,179
Employers 599,840 696,104 759,185 866,785 958,045
Investment income (gross) 489,750 509,036 490,948 384,189 384,353
Transfer Values 70,288 77,799 62,040 72,152 74,838
Profits on Realisation of Investments 1,659,652 1,221,797 294,685 3,586,281 1,167,140
Other Income 20,310 2,364 2,051 2,001 2,977
TOTAL INCOME 3,092,479 2,743,944 1,855,961 5,184,688 2,863,533

Contact

Email: Bruce Golding