Forum Message

Topic: budget surplus went to 10m pension top-up.
Posted by: Mark Proctor
Date/Time: 15/03/15 20:16:00

I'm trying to understand the 10m pension to-pup, from the surplus in the general fund.
Noted in these links:
http://www.hounslow.gov.uk/statement_of_accounts_2012_2013.pdf
http://www.hounslow.gov.uk/pension_fund_annual_report_2014.pdf
http://democraticservices.hounslow.gov.uk/(S(ocpv14urcffa5w55piqs0w45))/mgAi.aspx?ID=73536

"Overall, the General Fund service areas of the Authority achieved a net 11.8m underspend for 2012/13 from which a 10m contribution was made to the pension fund. The underlying underspend was largely due to the following factors:"
It then lists all the places they didn't spend money, it doesn't say why topping up pensions is the best way to spend this money.

It doesn't seem to indicate anywhere why this was done, only that it was done. The decision seems strange as in the other documents they note how well the Hounslow pension is performing.

Was there a good reason for this, that I'm missing. Or was it arbitrary? I'm hoping there is some obvious link I'm missing, that justifies this.


Entire Thread
TopicDate PostedPosted By
budget surplus went to 10m pension top-up.15/03/15 20:16:00 Mark Proctor
   Re:budget surplus went to 10m pension top-up.15/03/15 23:02:00 Guy Lambert
      Re:Re:budget surplus went to 10m pension top-up.15/03/15 23:16:00 Mark Proctor
         Re:Re:Re:budget surplus went to 10m pension top-up.16/03/15 09:51:00 Sam Hearn
         Re:Re:Re:budget surplus went to 10m pension top-up.16/03/15 09:51:00 Sam Hearn
            Re:Re:Re:Re:budget surplus went to 10m pension top-up.18/03/15 08:11:00 Andrew OSullivan
            Re:Re:Re:Re:budget surplus went to 10m pension top-up.18/03/15 08:15:00 Mark Proctor
               Re:Re:Re:Re:Re:budget surplus went to 10m pension top-up.18/03/15 10:39:00 Sam Hearn

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