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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 also includes a Chair’s Statement. This assesses the Trustee’s Knowledge and Understanding of the Scheme, its value for members, and its charges and transaction costs. You can read the Chair’s Statement on the Charges & Governance section.

You can see a summary of the Report and Accounts for the year ended 31 March 2022 below.

Income	£m
Contributions and transfer in	102.2
Investment and other income	2.5
Increase in market value	76.7
Income total	182.4

Expenditure	£m
Benefits paid	17.9
Leavers' payments	48.31
Expenses	2.7
Expenditure total	68.9

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 2022.

As at 31 March 2021
Active members	19,665
Deferred members	17,442
As at 31 March 2022
Active members	18,959
Deferred members	18,838

An update on the Lifetime Allowance

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

April 2024