Details of the Local Government Pension Scheme in England in 2010 to 2011 were announced on 12 October 2011.
The latest statistics release includes data from 2006-07 to 2010-11 and updates those statistics previously released on 13 October 2010.
The key points from the latest release are:
- Local Government Pension Scheme expenditure on benefits in 2010-11 was £6.7 billion, compared with £6.3 billion in 2009-10, an increase of 7 per cent
- Income from employees’ contributions to the Local Government Pension Scheme in 2010-11 was £2.0 billion, a small decrease on 2009-10. Income from employers’ contributions to the scheme rose by 3 per cent to £5.9 billion in the same period
- Income from investments rose by 5 per cent on 2009-10 to £2.7 billion
- The market value of the funds at end of March 2011 was £143 billion. This represents an increase of 8 per cent on March 2010 and an increase of 47 per cent on March 2009
- There were 1.6 million employees in the Local Government Pension Scheme at the end of March 2011, a 51 thousand, or 3 per cent, decrease over the figure for March 2010
- The number of people leaving the Local Government Pension Scheme in 2010-11 because of redundancy increased by 40 per cent over the 2009-10 figure to over 17,600
- The number of former employees entitled to deferred benefits rose to 1.3 million in 2010-11, an increase of 7 per cent over 2009-10 and an increase of 41 per cent over 2006-07.