Response A1346102

Response to request for information

Reference

A1346102

Response date

15 December 2021

Request

I would be grateful if you could explain why the employer contribution to the LGPS tripled from £1,183m in 2019/20 to £4,017m in 2020/21 (see p44 2021 annual report).

The 2020/21 figure includes the results of the 2019 actuarial valuation, so I would have expected a small change.

Was this a pre-payment of future cash contributions? If so, could you please point me to the pre-payment asset in the accounts?

Response

The £4.017m figure in the 20-21 accounts is inclusive of the tri-annual deficit prepayment (3 year total - £2.753m), detailed page 47 of the Statement of Accounts under "Impact on the Councils Cash Flows".

The asset is shown in the Pensions reserve note 20 - the two remaining years left to be allocated to future years are included in the reserve figure of £66.014m.

The figure you refer to, £2,182, is normal employer contributions plus only 1 years deficit payment.