Details of the Local Government Pension Scheme in England in 2009 to 2010 were announced on 13 October 2010.
The latest statistics release includes data from 2005-06 to 2009-10 and updates those statistics previously released on 15 October 2009.
The key points from the latest release are:
- Local Government Pension Scheme expenditure on benefits in 2009-10 was £6.3 billion, compared with £5.6 billion in 2008-09, an increase of 13 per cent.
- Income from employees’ contributions to the Local Government Pension Scheme in 2009-10 was £2.0 billion, an increase of 3 per cent on 2008-09. Income from employers’ contributions to the scheme rose by 7 per cent to £5.8 billion in the same period.
- Income from investments fell by 10 per cent in 2009-10 to £2.6 billion. This follows a fall of 9 per cent in 2008-09.
- The market value of the funds at end of March 2010 was £132 billion. This represents an decrease of 17 per cent on March 2006 and and increase of 10 per cent on March 2008.
- There were nearly 1.7 million employees in the Local Government Pension Scheme at the end of March 2010, almost no change on March 2009.
- The number of former employees entitled to deferred benefits rose to 1.2 million in 2009-10, an increase of 46 per cent over 2005-06. Over the same period the number of pensioners has increased by 16 per cent. The number of former employees entitled to deferred benefits exceeds the number of pensioners.