Scottish Local Government Financial Statistics 2009-10
Scottish Local Government Financial Statistics 2009-10
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5 LOCAL GOVERNMENT PENSIONS
KEY SUMMARY FACTS
- Local Government Pension Fund expenditure in 2009-10 was £1.1 billion.
- Local Government Pension Fund income in 2009-10 was £5.2 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
2005-06 |
2006-07 |
2007-08 |
2008-09 |
2009-10 |
|
|---|---|---|---|---|---|
Total Benefits 1 |
453,507 |
507,639 |
558,964 |
605,687 |
777,991 |
Payments under Pensions (Increase) Acts |
100,142 |
105,058 |
116,036 |
131,641 |
63,035 |
Transfer Values |
62,728 |
49,766 |
48,119 |
41,942 |
69,848 |
Premiums |
699 |
814 |
967 |
4,775 |
1,442 |
Losses on Realisation of Investments |
120,355 |
208,179 |
469,236 |
1,881,387 |
162,579 |
Refunds of Contributions |
4,168 |
3,602 |
3,068 |
3,054 |
2,760 |
Adjustments |
-1,701 |
-1,866 |
-1,900 |
-2,002 |
-2,434 |
Other |
48,056 |
56,557 |
66,597 |
61,695 |
60,086 |
TOTAL EXPENDITURE |
787,954 |
929,749 |
1,261,087 |
2,728,179 |
1,135,307 |
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 |
|
|---|---|---|---|---|
2005-06 |
364,471 |
87,161 |
1,875 |
453,507 |
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 |
Table 5.3 - Local Government Pension Funds Income
£ thousands
2005-06 |
2006-07 |
2007-08 |
2008-09 |
2009-10 |
||
|---|---|---|---|---|---|---|
Contributions (including those from other employing authorities) |
Employees |
239,825 |
252,639 |
236,844 |
247,052 |
273,280 |
Employers |
558,455 |
599,840 |
696,104 |
759,185 |
866,785 |
|
Investment income (gross) |
411,184 |
489,750 |
509,036 |
490,948 |
384,189 |
|
Transfer Values |
207,789 |
70,288 |
77,799 |
62,040 |
72,152 |
|
Profits on Realisation of Investments |
1,023,788 |
1,659,652 |
1,221,797 |
294,685 |
3,586,281 |
|
Other Income |
25,845 |
20,310 |
2,364 |
2,051 |
2,001 |
|
TOTAL INCOME |
2,466,886 |
3,092,479 |
2,743,944 |
1,855,961 |
5,184,688 |
|
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