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Financial summary and membership of the Scheme

Each year, the Trustee produces its Report and Accounts. This shows the financial development of the Scheme over the year. The Report and Accounts includes a Chair’s Statement, which also assesses the Scheme Trustee Knowledge and Understanding, value for members, and charges and transaction costs. You can access the Chair’s Statement in the Charges & Governance section.

You can see a summary of the Report and Accounts for the year ended 31 March 2021 below.

Income	£m
Contributions and transfer in	99.4
Investment and other income	3.0
Increase in market value	176.5
Income total	278.9

Expenditure	£m
Benefits paid	11.3
Leavers' payments	25.1
Expenses	3.0
Expenditure total	39.4

Figures have been rounded so may not total exactly.

You can find a copy of the Report and Accounts in the Document library.

Membership numbers

Here’s how the membership of the Scheme changed over the year to 31 March 2021.

As at 31 March 2020
Active members	20,133
Deferred members	14,193
As at 31 March 2021
Active members	19,665
Deferred members	17,442

An update on the Lifetime Allowance

Since 2006, pension savings have been subject to a Lifetime Allowance (LTA)...

April 2024