Details of the local government pension scheme in England in 2011 to 2012.
Details of the local government pension scheme in England in 2011 to 2012 were announced on 17 October 2012.
The latest statistics release includes data from 2007-08 to 2011-12 and updates those statistics previously released on 12 October 2011.
The key points from the latest release are:
- local government pension scheme expenditure on benefits in 2011-12 was £7.5 billion, compared with £6.7 billion in 2010-11, an increase of 12%
- income from employees’ contributions to the local government pension scheme in 2011-12 was £1.8 billion, a decrease on 2010-11 of more than 6%; income from employers’ contributions to the scheme in the same period also decreased, albeit by just 0.4%
- in 2011-12, total expenditure accounted for 74% of the local government pension scheme income, up from 58% in 2007-08
- income from investments rose by 13% on 2010-11 to £3 billion
- the market value of the funds at end of March 2012 was £148 billion; this represents an increase of 4% on March 2011 and an increase of 52% on March 2009
- there were less than 1.6 million employees in the local government pension scheme at the end of March 2012, a 66,000, or 4%, decrease over the figure for March 2011
- the number of people leaving the local government pension scheme in 2011-12 because of redundancy was more than 27,400, an increase of more than 55% over the 2010-11 figure
- the number of former employees entitled to deferred benefits rose to 1.4 million in 2011-12, an increase of 7% over 2010-11 and an increase of 35% over 2007-08