2014/15 Budgets - West Yorkshire Pension Fund Employer's Contribution Rates

The value of the employer's contribution to the West Yorkshire Pension Fund in 2013/14 was 15%. Following the implementation of the new pension arrangements, this contribution will reduce (to 14.2%) at 1 April 2014.

However, we advise schools not to allocate this cost difference to other budget headings at this time. The School Forum will be asked to discuss, in its meeting on 21st May, the options for the management of the actuarially calculated pensions deficit at 31st  March 2014. It is very likely that the element of this calculated deficit relating to the pensions of school employees will be charged to school delegated budgets. We will provide more information for schools after the Forum's meeting in May.


Information

Published: 11/03/2014
Audience: Headteachers and School Finance Managers
Contact: Andrew Redding

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