Financial summary

The table below shows how much has been paid out of the Scheme for the year ended 31 March 2023.

From 1 June 2021 the MRBS Section of the Scheme was closed to future accrual, after which no further member related contributions were due or received. At the same time, the contribution from the Employer of the MRBS Section towards operational expenses also ceased.

These figures are from the Scheme’s audited accounts.

Money coming into the Scheme £ 000
Employer contributions -
Additional employer contributions for augmentation and administration -
Employee contributions including AVCs -
Pension Sharing Order Fee 1
Total 1
Money going out of the Scheme £ 000
Pension benefits* (30,422)
Expenses** (2,425)
Sub total (32,847)
Net withdrawals from dealing with members (32,846)
Investments £ 000
Investment income 32,530
Investment management expenses (20)
Change in market value of investments (246,882)
Net return on investments (214,372)
Fund value as at 31 March 2022 1,039,400
Net decrease in Fund*** (267,218)
Fund value as at 31 March 2023 772,182

*These cover benefits payable on retirement (including lump sums and pensions) and withdrawals (including transfer-out payments and death benefits).

**These cover adviser fees including actuarial, audit, legal, communication and Trustee fees, and all costs associated with the buy-in.

***Includes the £20m merger contribution to the FW Section.

For more information on the investment performance, go to Investments.


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