Your Past Is Your Future BUS FUND November 2013 Issue 15 | Page 4
Review of 2012 / 2013
Review of 2012 / 2013
Membership
Customer Service
2400
2200
2000
2,203
2,190
2,175
2,161
1,305
1,355
511
488
461
359
318
292
2,146
1800
1600
1400
1200
1000
1,184
1,253
1,393
800
600
400
200
0
533
466
526
411
2009 2010 2011 2012 2013
Total Membership
Active Members
Deferred Members
The total number of members in the
Fund has fallen to 2,146 compared
with 2,161 at March 2012. As the
Fund is closed to new members the
trend of increasing scheme maturity
continued, as is to be expected.
However benefits are fully protected
and no-one is at risk from this falling
contributor base.
• Active members contributing to
the Scheme have fallen from 318
in 2012 to 292 in 2013, a drop of
8.2%.
• Pensioners (including
dependants) in receipt of a benefit
have risen from 1,355 in 2012 to
1,393 in 2013, up by 2.8%.
• Deferred members (members
who have left employment and
deferred their benefits until
normal retirement age) have
fallen from 488 in 2012 to 461 in
2013, a drop of 5.5%.
£15,001 - £30,000.................................... 94%
£30,001 - £45,000....................................... 4%
£45,001 - £65,000....................................... 0%
Over £65,001................................................... 1%
Target
Days
Number
Processed
In
Time
Performance Last Year
2012/13
2011/12
5
39
39
100%
100%
12
2
2
100%
100%
5
6
6
100%
100%
Female................................................................. 14%
Male........................................................................ 86%
Retirement estimates
5
68
68
100%
100%
Preserved benefits
20
5
5
100%
100%
Transfers out (to other pension schemes)
5
6
6
100%
100%
Current Age ........................................................ 67
Age Pension Commenced.................... 56
Current Annual Pension...... £5,653.63
Retirement benefits
5
65
65
100%
100%
Time in Receipt of Pension ... 11 years
Death benefits
4
20
20
100%
100%
All key tasks
----
211
211
100%
100%
Male........................................................................ 83%
Current Age ........................................................ 54
0 - 50..................................................................... 2%
41 - 45.................................................................. 20%
51 - 55..................................................................... 1%
46 - 50.................................................................. 28%
56 - 60..................................................................... 7%
51 - 55.................................................................. 29%
61 - 65.................................................................. 26%
56 - 60.................................................................. 21%
66 - 70.................................................................. 31%
61 - 65..................................................................... 2%
71 - 75.................................................................. 21%
76 - 80.................................................................. 10%
81 - 85..................................................................... 2%
Averages
36 - 40....................................... Less than 1%
Age Profile
Annual Pension............................ £3,280.19
Age Profile
Current Age ........................................................ 50
Female................................................................. 17%
Current Membership ................29 years
36 - 40..................................................................... 1%
41 - 45..................................................................... 6%
46 - 50.................................................................. 16%
51 - 55.................................................................. 27%
56 - 60.................................................................. 41%
86 - 90..................................................................... 0%
61 - 65..................................................................... 9%
91 - 95..................................................................... 0%
66 - 70....................................... Less than 1%
96 - 100.................................................................. 0%
Salary.................................................. £22,379.35
4
Key Service Standard
Pension rights on divorce
Age Joined Fund............................................ 25
Last year we reported on a new initiative being
introduced to combat the significant number of
Pensioners (including dependants)
Age Profile
Our performance in terms of meeting our published
service standards over the year ending 31st March
2013 is given in the following table:
Gender
We are committed to ensuring our data is up to
date and accurate, and record all cases where
we discover an error. All errors are analysed to
ensure procedures are being operated as intended
and to identify any shortfall in staff training and
development.
Averages
Up to £15,000.................................................. 1%
Gender
Deferred Members
Averages
Annual Salary Gender
Active Members
Male........................................................................ 94%
We continue to provide twice-yearly newsletters
to our pensioners and a