Fund Account
2011/12 £’000 2012/13 £’000
£’000
Contributions from employers: 151,223 - Normal 150,516 12,752 - Early retirement 10,570 1617 - Other 2,014 165,592 55,106 Contributions from members 163,100 53,482 216,582
220,698 Benefits Payable: (160,256) - Retirement pensions (174,079) (66,855) - Commutation/lump sum (47,374) retirement benefits (4,984) - Death benefits (5,348)
(232,095) (226,801) (982) Transfers in and out (net) incl 834 contribution refunds (5,538) Administrative Expenses (5,682) (4,848) (6520) 126,580 Investment income 131,163
115,811 Profit and losses on disposal 485,735 of investments and changes in value of investments (1,233) Taxes on income (1,462) 615,436 600,369 241,158 223,241 Net increase (decrease) in the net assets available for benefits during the year
4,464,656 Net assets of the Fund 4,687,897 at 1 April 4,687,897 Net assets of the Fund 5,288,266 at 31 March
* extracted from the audited 2012/2013 accounts