South Yorkshire Pensions Authority
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Finance

Around November each year, a budget report is submitted to the Pensions Authority detailing expected expenditure and income figures for the current financial year and budget estimates for the following financial year.

2015/16 Budget Report in Brief:

 
2014/15 Original Estimate
(£)

2014/15 Probable Outturn
(£)

2015/16 Estimate
(£)
Administration Expenses
 2,934,900
 2,867,900 
 3,006,600 
Investment Expenses
 2,498,700
 2,568,900
 2,754,300
Contingencies
    (45,900)
    (34,100)
    (50,000)
Total Expenditure
Requirement
 5,387,700
 5,402,700
 5,710,900
Recharged to:
Fund
 5,237,700
 5,228,700 
5,536,900 
SYPT Pension Fund
    150,000
   174,000
   174,000
Total Recharge
  5,387,700
 5,402,700
 5,710,900 

Pensions administration costs are charged direct to the Pensions Fund.  The balance of the authority's running costs fall on the District Councils, partly by direct recharges, and partly via the levy, which is shared out on a population basis.

 

2014/15
(£m)

2015/16
(£m)

Direct Recharges:
Non-statutory Pensions
- former District Councils

12.70 12.84

Levy:
Balance (over) / under recovered

from previous year

0.54 0.52
Levy 0.54 0.52

 


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