pension deficits 2012 uk

8/2/2019 Pension Deficits 2012 UK

http://slidepdf.com/reader/full/pension-deficits-2012-uk 1/24

Public Sector Pensions 3: Research Note 103 | 13 April 2012

Council pensions: The £54 bi llion black hole

In the face of union pressure local authorities and other public sector organisations have

been reluctant to accept the need for necessary pension reforms. But the TaxPayers’

Alliance can reveal that the pension assets held by each local authority in the UK are

dwarfed by the size of their liabilities – this means that there is gaping pensions deficit of

£54 billion, for which taxpayers are ultimately liable.

Local government pensions are more sustainable than other public sector schemes, which

are unfunded. However, the Local Government Pension Scheme (LGPS) is much more

generous than most private sector provision, and places a heavy burden on local

taxpayers. With an ageing population and a crisis in the public finances, generous final

salary schemes are inflexible and too expensive.

Existing TaxPayers’ Alliance research has investigated council pensions and the

considerable burden they place on the taxpayer. The true cost of the Local Government

Pension Scheme found that the equivalent of £1 in every £5 of council tax was spent on

employer contributions to the Local Government Pension Scheme (LGPS). The same report

also found that over 4,500 Councillors were enrolled on the LGPS, raising questions over

their ability to represent the interests of taxpayers.1 Now, Council Pensions: The £54

billion black hole collates every council’s pension deficits for 2010-11. It takes into accountall pension liabilities and assets that appear on their balance sheets.

The key findings of this research are:

Local Authorities across the UK had a combined pension deficit of £54 billion in



Reforming council pensions

Each of the 101 pension schemes in the UK has greater liabilities than they hold in assets

and are therefore in deficit. Local Government Pension Schemes have become

unaffordable and as a result unsustainable, and need urgent reform.

Michael Johnson, a pensions expert and a research fellow of the Centre for Policy Studies,

wrote a letter to the Financial Times in February 2012 along with several other signatories.

They highlighted the desperate situation in local government pension funds. They note

that:2

“Several are now so underfunded that they are beyond the point of no

return. Now having to consume their assets to meet pensions in payment,

such funds are in a death spiral. The inability of the LGPS to control costs is masked by the ineffective governance tripartite of employers, central

and local government.”

In July 2010, Eugene Sullivan, the Chief Executive of the Audit Commission also warned

against backing down from reform, arguing that maintaining the status quo was:3

“Putting it off for future generations to pick up the tab – it’s just deferring

the inevitable, like not paying your mortgage.”

Sullivan also advocates amalgamating some of the numerous pension funds across the UK,

citing the fact that London alone has 33 separate schemes.

Glyn Gaskarth of the Local Government Information Unit outlined a similar proposal on the

ConservativeHome website in March 2012. He argues that such changes would:4

“Reduce costs and leave more money in the funds to accumulate. These

ill il i f d h i d



I ncrease employee contr ibut ions. A default employee contribution rate of 8 percent of salary should be set for all personal account pension scheme members. This

represents an increase in the existing personal contribution level which currently

ranges 5.5 per cent to 7.5 per cent (this is dependent on income level). The new

default rate would compare well with the level of employee pension contributions in

the police which ranges from 9.5 per cent to 11.5 per cent.

Honour existing pension accrued entitlements. Existing pension scheme

members have accumulated legal entitlement to payments based on a formula of

1/60th of final salary in pension for each year worked. Existing accrued entitlements

should not be altered.

Freeze all existing local authority pension entitlements at their current

level. There is no legal right for workers to continue to receive the current pension

deal for future years’ payments. Each pension member’s existing entitlement shouldbe frozen. At the age of sixty five they should receive a pension based on their last

year of earnings before this freeze occurred (increased by the retail price index) times

the number of years they worked prior to the freeze.

Open new Personal Accounts Pensions for all existing pension scheme

contributors. Default all new employees and existing local government pension

scheme members into a new local government personal accounts pension scheme.Offer all employees the chance to leave if they formally request this.

Match employee/ employer contribut ions. Local Authorities should match

employee’s personal contributions up to a specified rate e.g. twelve per cent.

Use existing pension funds and the savings on reductions to employer

contributions to meet existing pension payments. All savings made from thereduced pension contributions employers make to the personal accounts system (they

would be paying between 8 and 12 per cent of salary rather than 15.7 per cent on

average) should be used to service existing pension liabilities.



Sources and Methodology

All information is taken from individual local authority annual statement of accounts.

In a very small number of cases, the reported assets minus the reported liabilities do

not always equal the reported deficit in the accounts. For example, Wandsworth’s

accounts show the council’s share of the liabilities with council assets, but a reported

deficit that does not equal assets-liabilities. In these cases, we have used reporteddeficits from the accounts.

Figures were mostly taken from the Scheme History section of the accounts. This

allowed us to evaluate the actuarial estimates for both the assets held by councils and

their liabilities. We have ensured that the figures contained within council accounts do

not conflict with those in pension fund accounts. For instance, County Councils are

often the administering authority for their Districts, but we have cross-checked localdata with pension fund data to ensure there has been no double-counting.

All liabilities – funded or unfunded – are reported in the balance sheet, and are

therefore included in this analysis. They also include any stated discretionary benefits

listed in local authority’s accounts.

Population data for individual local authorities was taken from mid-2010 estimates

provided by the Office for National Statistics.8

Table 2 (Top 20 deficits per head of local population in 2010-11) does not include City

of London. The very low population figures mean that this is not a fair comparator.

Guide to Tables

Table 1: Top 20 council pension deficits in 2010-11

Table 2: Top 20 deficits per head of local population in 2010-11



55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 6

Table 1: Top 20 council pension deficits in 2010-11

Council Assets (£ ) Liabilit ies (£ ) Deficit (£ ) Assets as a

percentage

of l iabil ities

Population Deficit share per

head of

population (£)

Birmingham 2,725,000,000 4,064,500,000 -1,339,500,000 67% 1,036,878 1,292

Durham 1,252,590,000 1,980,130,000 -727,540,000 63% 510,804 1,424

Hampshire 1,274,460,000 1,992,930,000 -718,470,000 64% 1,296,814 554

Leeds 1,960,667,000 2,610,521,000 -649,854,000 75% 798,769 814

Essex 1,267,329,000 1,900,519,000 -633,190,000 67% 1,413,025 448

Lancashire 1,743,007,000 2,372,019,000 -629,012,000 73% 1,169,270 538

Glasgow City 2,311,000,000 2,936,000,000 -625,000,000 79% 592,820 1,054

Brent 418,240,000 999,920,000 -581,680,000 42% 256,556 2,267

Staffordshire 1,085,600,000 1,654,000,000 -568,400,000 66% 831,290 684

Sheffield 1,296,039,000 1,859,352,000 -563,313,000 70% 555,507 1,014

Liverpool 1,304,462,000 1,862,111,000 -557,649,000 70% 445,229 1,252

Kent 1,471,303,000 2,008,308,000 -537,005,000 73% 1,427,418 376Devon 886,153,000 1,405,502,000 -519,349,000 63% 749,944 693

Nottinghamshire 1,082,300,000 1,589,100,000 -506,800,000 68% 779,890 650

Cardiff 690,686,000 1,185,050,000 -494,364,000 58% 341,054 1,450

Rhondda, Cynon, Taff 539,437,000 1,022,784,000 -483,347,000 53% 234,309 2,063

Lambeth 729,246,000 1,201,561,000 -472,315,000 61% 284,484 1,660

Surrey 998,457,000 1,459,701,000 -461,244,000 68% 1,127,322 409

Southwark 781,900,000 1,229,400,000 -447,500,000 64% 287,041 1,559Derbyshire 1,128,753,000 1,572,386,000 -443,633,000 72% 763,724 581




Table 2: Top 20 council pension deficits per head of local population

Council Asset s (£) Liabilit ies (£) Deficit (£) Asset s as ashare ofl iabil ities

Populat ion Deficit share perhead ofpopulation ( £)

Merthyr Tydfil 127,620,000 253,930,000 -126,310,000 50% 55,699 2,268

Brent 418,240,000 999,920,000 -581,680,000 42% 256,556 2,267

Rhondda, Cynon, Taff 539,437,000 1,022,784,000 -483,347,000 53% 234,309 2,063

Gateshead 647,760,000 1,038,900,000 -391,140,000 62% 191,690 2,040Neath Port Talbot 392,320,000 667,220,000 -274,900,000 59% 137,392 2,001

Hackney 670,127,000 1,093,447,000 -423,320,000 61% 219,228 1,931

Hammersmith and Fulham 467,218,000 789,559,000 -322,341,000 59% 169,705 1,899

Newham 649,755,000 1,062,394,000 -412,639,000 61% 240,124 1,718

Blaenau Gwent 217,622,000 334,388,000 -116,766,000 65% 68,368 1,708

Lambeth 729,246,000 1,201,561,000 -472,315,000 61% 284,484 1,660

Haringey 592,761,000 966,044,000 -373,283,000 61% 224,996 1,659

Kingston upon Hull, City of 700,171,000 1,136,862,000 -436,691,000 62% 263,890 1,655

Bridgend 292,650,000 506,260,000 -213,610,000 58% 134,564 1,587

Swansea 627,970,000 993,100,000 -365,130,000 63% 232,501 1,570

Islington 592,162,000 896,472,000 -304,310,000 66% 194,080 1,568

Dundee City 704,381,000 930,161,000 -225,780,000 76% 144,290 1,565

Southwark 781,900,000 1,229,400,000 -447,500,000 64% 287,041 1,559

Sunderland 790,960,000 1,227,540,000 -436,580,000 64% 283,509 1,540

Wolverhampton 666,956,000 1,034,800,000 -367,844,000 64% 239,354 1,537

Waltham Forest 445,895,000 792,445,000 -346,550,000 56% 227,145 1,526




Table 4: Full details of all UK council pension assets, liabilities and deficits in 2010-11

Council Assets (£ ) Liabilit ies (£ ) Deficit (£ ) Assets as apercentageof l iabil ities

Populat ion Deficit share perhead ofpopulation ( £)

Aberdeen City 846,722,000 1,074,977,000 -228,255,000 79% 217,120 1,051

Aberdeenshire 743,575,000 926,343,000 -182,768,000 80% 245,780 744

Adur 72,510,000 92,890,000 -20,380,000 78% 61,630 331

Allerdale 46,829,000 68,707,000 -21,878,000 68% 94,086 233

Amber Valley 52,976,000 77,694,000 -24,718,000 68% 121,590 203

Angus 339,524,000 442,149,000 -102,625,000 77% 110,570 928

Antrim 22,652,000 27,752,000 -5,100,000 82% 54,145 94

Ards 29,997,000 35,929,000 -5,932,000 83% 78,248 76

Argyll and Bute 382,726,000 408,953,000 -26,227,000 94% 89,200 294

Armagh 30,200,000 37,098,000 -6,898,000 81% 59,441 116

Arun 82,370,000 105,330,000 -22,960,000 78% 150,561 152

Ashfield 58,192,000 96,379,000 -38,187,000 60% 117,008 326

Ashford 64,048,000 98,400,000 -34,352,000 65% 115,533 297

Aylesbury Vale 82,077,000 124,281,000 -42,204,000 66% 174,409 242

Babergh 45,919,000 58,476,000 -12,557,000 79% 85,561 147

Ballymena 37,179,000 43,587,000 -6,408,000 85% 63,451 101

Ballymoney 12,756,927 15,217,213 -2,460,286 84% 30,564 80

Banbridge 17,706,000 21,831,188 -4,125,188 81% 47,955 86

Barking and Dagenham 430,131,000 623,490,000 -193,359,000 69% 179,741 1,076

Barnet 484,111,000 720,595,000 -236,484,000 67% 348,198 679

Barnsley 581,217,000 830,804,000 -249,587,000 70% 227,610 1,097

Barrow-in-Furness 56,371,000 78,315,000 -21,944,000 72% 70,654 311

Basildon 108,969,000 169,608,000 -60,639,000 64% 175,212 346

Basingstoke & Deane 89,600,000 151,250,000 -61,650,000 59% 165,120 373

Bassetlaw 54,036,000 82,501,000 -28,465,000 65% 111,820 255

Bath and North East Somerset 357,115,000 511,419,000 -154,304,000 70% 179,704 859




Council Assets (£ ) Liabilit ies (£ ) Deficit (£ ) Assets as apercentage

of l iabil ities

Populat ion Deficit share perhead of

population ( £)Bedford Borough 271,279,000 410,369,000 -139,089,000 66% 160,797 865

Belfast 306,877,628 380,552,000 -73,674,372 81% 268,745 274

Bexley 438,221,000 524,797,000 -86,576,000 84% 227,957 380

Birmingham 2,725,000,000 4,064,500,000 -1,339,500,000 67% 1,036,878 1,292

Blaby 31,800,000 44,591,000 -12,791,000 71% 94,021 136

Blackburn with Darwen 322,669,000 467,998,000 -145,329,000 69% 140,045 1,038

Blackpool 319,805,000 456,067,000 -136,262,000 70% 139,974 973Blaenau Gwent 217,622,000 334,388,000 -116,766,000 65% 68,368 1,708

Bolsover 54,663,000 81,372,000 -26,709,000 67% 74,572 358

Bolton 690,100,000 857,500,000 -167,400,000 80% 266,492 628

Boston 35,039,000 51,842,000 -16,803,000 68% 59,042 285

Bournemouth 264,958,816 457,377,000 -192,418,184 58% 168,118 1,145

Bracknell Forest 187,780,000 261,592,000 -73,812,000 72% 116,538 633

Bradford 1,255,000,000 1,678,000,000 -423,000,000 75% 512,618 825

Braintree 90,081,000 130,130,000 -40,049,000 69% 144,032 278

Breckland 49,758,000 67,549,000 -17,791,000 74% 130,925 136

Brent 418,240,000 999,920,000 -581,680,000 42% 256,556 2,267

Brentwood 52,123,000 85,033,000 -32,910,000 61% 74,785 440

Bridgend 292,650,000 506,260,000 -213,610,000 58% 134,564 1,587

Brighton and Hove 576,208,000 682,765,000 -106,557,000 84% 258,762 412

Bristol 1,068,907,000 1,479,217,000 -410,310,000 72% 441,285 930

Broadland 35,837,000 47,688,000 -11,851,000 75% 123,676 96

Bromley 432,067,000 601,733,000 -169,666,000 72% 312,380 543

Bromsgrove 39,928,000 59,276,000 -19,348,000 67% 93,441 207

Broxbourne 56,956,000 69,302,000 -12,346,000 82% 90,609 136

Broxtowe 64,517,000 86,466,000 -21,949,000 75% 111,818 196

Buckinghamshire 504,742,000 782,998,000 -278,256,000 64% 498,072 559

Burnley 103,508,000 148,312,000 -44,804,000 70% 85,301 525





of l iabil ities


population ( £)Bury 444,700,000 520,300,000 -75,600,000 85% 183,753 411

Caerphilly 401,975,000 606,657,000 -204,682,000 66% 173,124 1,182

Calderdale 513,500,000 686,500,000 -173,000,000 75% 202,741 853

Cambridge 132,610,000 190,481,000 -57,871,000 70% 125,717 460

Cambridgeshire 621,852,000 930,328,000 -308,476,000 67% 616,282 501

Camden 811,299,000 1,115,456,000 -304,157,000 73% 235,362 1,292

Cannock Chase 67,153,000 108,593,000 -41,440,000 62% 94,674 438Canterbury 86,186,000 122,112,000 -35,926,000 71% 153,189 235

Cardiff 690,686,000 1,185,050,000 -494,364,000 58% 341,054 1,450

Carlisle 94,153,000 124,158,000 -30,005,000 76% 104,539 287

Carmarthenshire 585,820,000 765,062,000 -179,242,000 77% 180,717 992

Carrickfergus 18,192,941 22,337,345 -4,144,403 81% 40,158 103

Castle Point 45,188,000 69,608,000 -24,420,000 65% 89,402 273

Castlereagh 28,769,122 34,149,188 -5,380,066 84% 67,029 80

Central Bedfordshire 336,223,000 533,505,000 -197,282,000 63% 255,219 773

Ceredigion 211,943,000 250,003,000 -38,060,000 85% 76,938 495

Charnwood 59,411,000 87,879,000 -28,468,000 68% 166,827 171

Chelmsford 106,834,000 164,832,000 -57,998,000 65% 169,542 342

Cheltenham 70,405,000 108,476,000 -38,071,000 65% 115,263 330

Cherwell 60,743,000 96,213,000 -35,470,000 63% 140,427 253

Cheshire East 722,948,000 962,772,000 -239,824,000 75% 363,820 659

Cheshire West and Chester 790,100,000 975,012,000 -184,912,000 81% 327,300 565

Chesterfield 110,476,000 152,418,000 -41,942,000 72% 101,036 415

Chichester 95,840,000 96,160,000 -320,000 100% 113,503 3

Chiltern 31,071,000 45,485,000 -14,414,000 68% 91,381 158

Chorley 61,912,000 88,254,000 -26,342,000 70% 105,432 250

Christchurch 32,569,000 46,100,000 -13,531,000 71% 47,302 286

City of London 568,400,000 756,000,000 -187,600,000 75% 11,677 16,066





of l iabil ities


population ( £)Clackmannanshire 155,490,000 217,107,000 -61,617,000 72% 50,630 1,217

Colchester 99,163,000 159,003,000 -59,840,000 62% 181,016 331

Coleraine 32,548,767 41,057,819 -8,509,052 79% 56,790 150

Conwy 269,409,000 337,677,000 -68,268,000 80% 110,863 616

Cookstown 16,366,720 19,790,558 -3,423,838 83% 36,655 93

Copeland 44,178,000 60,079,000 -15,901,000 74% 69,513 229

Corby 50,413,000 76,914,000 -26,501,000 66% 55,833 475Cornwall 960,779,000 1,271,058,000 -310,279,000 76% 535,334 580

Cotswold 38,479,000 59,176,000 -20,697,000 65% 83,538 248

Coventry 733,800,000 1,053,900,000 -320,100,000 70% 315,739 1,014

Craigavon 47,976,705 56,237,058 -8,260,353 85% 93,623 88

Craven 23,717,000 46,031,000 -22,314,000 52% 55,414 403

Crawley 136,030,000 145,460,000 -9,430,000 94% 107,562 88

Croydon 617,831,000 963,272,000 -345,441,000 64% 345,562 1,000Cumbria 738,150,000 1,000,317,000 -262,167,000 74% 494,350 530

Dacorum 100,322,000 146,964,000 -46,642,000 68% 142,881 326

Darlington 216,990,000 327,120,000 -110,130,000 66% 100,843 1,092

Dartford 59,485,000 89,209,000 -29,724,000 67% 94,555 314

Daventry 34,480,000 53,103,000 -18,623,000 65% 78,959 236

Denbighshire 238,109,000 367,789,000 -129,680,000 65% 96,731 1,341

Derby 495,917,000 710,961,000 -215,044,000 70% 246,855 871

Derbyshire 1,128,753,000 1,572,386,000 -443,633,000 72% 763,724 581

Derbyshire Dales 34,732,000 49,446,000 -14,714,000 70% 70,389 209

Derry City 59,454,982 74,759,000 -15,304,018 80% 109,826 139

Devon 886,153,000 1,405,502,000 -519,349,000 63% 749,944 693

Doncaster 651,695,000 921,715,000 -270,020,000 71% 290,593 929

Dorset* 460,272,000 765,204,000 -304,932,000 60% 404,789 753

Dover 67,681,000 110,327,000 -42,646,000 61% 106,931 399





of l iabil ities


population ( £)Down 35,601,000 41,554,000 -5,953,000 86% 70,770 84

Dudley 672,687,000 953,621,000 -280,934,000 71% 307,362 914

Dumfries and Galloway 482,045,000 618,083,000 -136,038,000 78% 148,190 918

Dundee City 704,381,000 930,161,000 -225,780,000 76% 144,290 1,565

Dungannon 21,436,698 25,869,000 -4,432,302 83% 57,748 77

Durham 1,252,590,000 1,980,130,000 -727,540,000 63% 510,804 1,424

Ealing 598,763,000 903,282,000 -304,519,000 66% 318,516 956East Ayrshire 479,035,000 555,986,000 -76,951,000 86% 120,240 640

East Cambridgeshire 22,672,000 35,422,000 -12,750,000 64% 84,931 150

East Devon 60,580,000 83,461,000 -22,881,000 73% 132,857 172

East Dorset 34,445,000 49,673,000 -15,228,000 69% 87,828 173

East Dunbartonshire 353,504,000 396,165,000 -42,661,000 89% 104,580 408

East Hampshire 46,510,000 78,360,000 -31,850,000 59% 112,578 283

East Hertfordshire 63,223,000 85,316,000 -22,093,000 74% 138,476 160East Lindsey 51,336,000 74,527,000 -23,191,000 69% 141,633 164

East Lothian 303,231,000 383,154,000 -79,923,000 79% 97,500 820

East Northamptonshire 22,782,000 36,267,000 -13,485,000 63% 85,251 158

East Renfrewshire 281,379,000 336,558,000 -55,179,000 84% 89,540 616

East Riding of Yorkshire 583,006,000 852,377,000 -269,371,000 68% 338,690 795

East Staffordshire 52,704,000 81,116,000 -28,412,000 65% 109,447 260

East Sussex 767,516,000 995,381,000 -227,865,000 77% 515,522 442Eastbourne 78,867,000 96,066,000 -17,199,000 82% 96,972 177

Eastleigh 55,930,000 90,870,000 -34,940,000 62% 122,370 286

Eden 30,175,000 35,711,000 -5,536,000 84% 51,817 107

Edinburgh, City of 1,507,428,000 1,843,330,000 -335,902,000 82% 486,120 691

Eilean Siar 148,726,000 178,263,000 -29,537,000 83% 26,190 1,128

Elmbridge 67,252,000 95,751,000 -28,499,000 70% 131,930 216

Enfield 568,907,000 886,879,000 -317,972,000 64% 294,927 1,078





of l iabil ities


population ( £)Epping Forest 83,812,000 130,136,000 -46,324,000 64% 124,738 371

Epsom and Ewell 44,558,000 60,585,000 -16,027,000 74% 74,272 216

Erewash 57,699,000 81,453,000 -23,754,000 71% 111,300 213

Essex 1,267,329,000 1,900,519,000 -633,190,000 67% 1,413,025 448

Exeter 84,170,000 129,690,000 -45,520,000 65% 119,618 381

Falkirk 439,018,000 610,887,000 -171,869,000 72% 153,280 1,121

Fareham 62,870,000 100,920,000 -38,050,000 62% 112,108 339Fenland 48,651,000 77,366,000 -28,715,000 63% 91,927 312

Fermanagh 28,740,409 34,076,000 -5,335,591 84% 63,076 85

Fife 1,249,733,000 1,631,773,000 -382,040,000 77% 365,020 1,047

Flintshire 361,228,000 564,531,000 -203,303,000 64% 149,709 1,358

Forest Heath 34,323,000 40,834,000 -6,511,000 84% 64,345 101

Forest of Dean 36,580,000 59,246,000 -22,666,000 62% 82,879 273

Fylde 43,384,000 59,450,000 -16,066,000 73% 76,590 210Gateshead 647,760,000 1,038,900,000 -391,140,000 62% 191,690 2,040

Gedling 46,816,000 62,036,000 -15,220,000 75% 113,158 135

Glasgow City 2,311,000,000 2,936,000,000 -625,000,000 79% 592,820 1,054

Gloucester 58,162,000 101,750,000 -43,588,000 57% 118,440 368

Gloucestershire 615,201,000 869,892,000 -254,691,000 71% 593,527 429

Gosport 48,100,000 76,810,000 -28,710,000 63% 79,892 359

Gravesham 69,975,000 100,648,000 -30,673,000 70% 99,551 308Great Yarmouth 68,867,000 102,659,000 -33,792,000 67% 97,179 348

Greater London Authority 80,113,000 100,298,000 -20,185,000 80% 7,825,177 3

Greenwich 798,626,000 1,079,603,000 -280,977,000 74% 228,509 1,230

Guildford 108,670,000 154,284,000 -45,614,000 70% 137,062 333

Gwynedd 338,233,000 407,128,000 -68,895,000 83% 119,007 579

Hackney 670,127,000 1,093,447,000 -423,320,000 61% 219,228 1,931

Halton 316,940,000 377,284,000 -60,344,000 84% 119,263 506





of l iabil ities


population ( £)Hambleton 35,948,000 51,752,000 -15,804,000 69% 87,576 180

Hammersmith and Fulham 467,218,000 789,559,000 -322,341,000 59% 169,705 1,899

Hampshire 1,274,460,000 1,992,930,000 -718,470,000 64% 1,296,814 554

Harborough 28,569,000 41,108,000 -12,539,000 69% 84,012 149

Haringey 592,761,000 966,044,000 -373,283,000 61% 224,996 1,659

Harlow 100,307,000 167,051,000 -66,744,000 60% 81,658 817

Harrogate 105,722,000 159,224,000 -53,502,000 66% 158,686 337Harrow 432,124,000 644,631,000 -212,507,000 67% 230,057 924

Hart 33,803,000 56,274,000 -22,471,000 60% 91,189 246

Hartlepool 302,546,000 354,402,000 -51,856,000 85% 91,304 568

Hastings 84,537,000 104,132,000 -19,595,000 81% 87,171 225

Havant 62,880,000 100,980,000 -38,100,000 62% 116,841 326

Havering 337,260,000 618,479,000 -281,219,000 55% 236,137 1,191

Herefordshire 229,200,000 361,000,000 -131,800,000 63% 179,297 735Hertfordshire 1,106,675,000 1,534,605,000 -427,930,000 72% 1,107,521 386

Hertsmere 52,105,000 78,028,000 -25,923,000 67% 99,924 259

High Peak 39,695,000 66,758,000 -27,063,000 59% 92,609 292

Highland 698,357,000 850,973,000 -152,616,000 82% 221,630 689

Hillingdon 575,064,000 820,944,000 -245,880,000 70% 266,114 924

Hinckley and Bosworth 34,690,000 49,562,000 -14,872,000 70% 105,082 142

Horsham 89,140,000 91,960,000 -2,820,000 97% 130,810 22Hounslow 451,900,000 639,700,000 -187,800,000 71% 236,760 793

Huntingdonshire 82,115,000 123,552,000 -41,437,000 66% 167,301 248

Hyndburn 70,794,000 103,436,000 -32,642,000 68% 81,122 402

Inverclyde 334,654,000 384,541,000 -49,887,000 87% 79,770 625

Ipswich 159,645,000 195,400,000 -35,755,000 82% 128,269 279

Isle of Anglesey 165,562,000 212,134,000 -46,572,000 78% 68,592 679

Isle of Wight 298,089,000 415,373,000 -117,284,000 72% 140,491 835





of l iabil ities


population ( £)Maldon 26,288,000 42,453,000 -16,165,000 62% 63,242 256

Malvern Hills 37,537,000 56,297,000 -18,760,000 67% 75,381 249

Manchester 1,905,300,000 2,273,200,000 -367,900,000 84% 498,779 738

Mansfield 91,093,000 138,811,000 -47,718,000 66% 99,635 479

Medway 293,311,000 430,087,000 -136,776,000 68% 256,699 533

Melton 21,239,000 29,758,000 -8,519,000 71% 49,475 172

Mendip 24,338,000 44,267,000 -19,929,000 55% 109,018 183Merthyr Tydfil 127,620,000 253,930,000 -126,310,000 50% 55,699 2,268

Merton 351,387,000 454,377,000 -102,990,000 77% 208,794 493

Mid Devon 41,179,000 66,741,000 -25,562,000 62% 76,088 336

Mid Suffolk 45,896,000 60,463,000 -14,567,000 76% 94,987 153

Mid Sussex 63,020,000 81,186,000 -18,166,000 78% 132,456 137

Middlesbrough 461,339,000 540,435,000 -79,096,000 85% 142,370 556

Midlothian 258,602,000 322,404,000 -63,802,000 80% 81,140 786Milton Keynes 312,183,000 454,348,000 -142,165,000 69% 241,497 589

Mole Valley 48,930,000 66,934,000 -18,004,000 73% 84,630 213

Monmouthshire 185,865,000 278,806,000 -92,941,000 67% 88,089 1,055

Moray 303,325,000 392,466,000 -89,141,000 77% 87,720 1,016

Moyle 11,533,074 13,731,113 -2,198,039 84% 16,998 129

Neath Port Talbot 392,320,000 667,220,000 -274,900,000 59% 137,392 2,001

New Forest 95,760,000 160,910,000 -65,150,000 60% 177,021 368Newark and Sherwood 53,432,000 83,613,000 -30,181,000 64% 113,620 266

Newcastle upon Tyne 929,750,000 1,279,150,000 -349,400,000 73% 292,179 1,196

Newcastle-under-Lyme 82,128,000 128,826,000 -46,698,000 64% 124,493 375

Newham 649,755,000 1,062,394,000 -412,639,000 61% 240,124 1,718

Newport 309,614,000 455,030,000 -145,416,000 68% 141,306 1,029

Newry and Mourne 43,364,577 51,774,000 -8,409,423 84% 99,880 84

Newtownabbey 41,417,000 49,701,000 -8,284,000 83% 83,605 99





of l iabil ities


population ( £)Norfolk 1,055,376,000 1,382,218,000 -326,842,000 76% 862,346 379

North Ayrshire 501,314,000 545,377,000 -44,063,000 92% 135,180 326

North Devon 50,660,000 75,626,000 -24,966,000 67% 91,472 273

North Dorset 24,654,000 35,408,000 -10,754,000 70% 64,225 167

North Down 38,438,761 45,953,465 -7,514,704 84% 79,940 94

North East Derbyshire 59,336,000 90,077,000 -30,741,000 66% 98,315 313

North East Lincolnshire 277,416,000 440,833,000 -163,417,000 63% 157,314 1,039North Hertfordshire 86,450,000 118,639,000 -32,189,000 73% 125,809 256

North Kesteven 38,933,000 53,815,000 -14,882,000 72% 106,432 140

North Lanarkshire 1,110,223,000 1,275,666,000 -165,443,000 87% 326,360 507

North Lincolnshire 352,461,000 529,472,000 -177,011,000 67% 161,345 1,097

North Norfolk 48,035,000 67,556,000 -19,521,000 71% 101,667 192

North Somerset 302,918,000 436,248,000 -133,330,000 69% 212,194 628

North Tyneside 510,778,000 800,561,000 -289,783,000 64% 198,478 1,460North Warwickshire 43,943,000 59,701,000 -15,758,000 74% 61,872 255

North West Leicestershire 51,600,000 71,602,000 -20,002,000 72% 90,783 220

North Yorkshire 613,800,000 1,016,000,000 -402,200,000 60% 599,708 671

Northampton 158,931,000 254,468,000 -95,537,000 62% 212,130 450

Northamptonshire 652,662,000 900,859,000 -248,197,000 72% 687,319 361

Northumberland 645,700,000 958,970,000 -313,270,000 67% 311,991 1,004

Norwich 215,699,000 298,498,000 -82,799,000 72% 143,488 577Nottingham 707,440,000 1,047,261,000 -339,821,000 68% 306,697 1,108

Nottinghamshire 1,082,300,000 1,589,100,000 -506,800,000 68% 779,890 650

Nuneaton and Bedworth 99,748,000 130,620,000 -30,872,000 76% 122,181 253

Oadby and Wigston 22,185,000 32,526,000 -10,341,000 68% 58,548 177

Oldham 602,000,000 743,400,000 -141,400,000 81% 219,771 643

Omagh 33,272,997 38,103,000 -4,830,003 87% 52,866 91

Orkney Islands 144,383,000 160,052,000 -15,669,000 90% 20,110 779





of l iabil ities


population ( £)Oxford 150,885,000 204,085,000 -53,200,000 74% 153,662 346

Oxfordshire 600,793,000 870,230,000 -269,437,000 69% 648,722 415

Pembrokeshire 320,091,000 376,809,000 -56,718,000 85% 117,086 484

Pendle 63,039,000 96,100,000 -33,061,000 66% 89,283 370

Perth and Kinross 420,154,000 550,227,000 -130,073,000 76% 147,780 880

Peterborough 261,960,000 407,309,000 -145,349,000 64% 173,423 838

Plymouth 455,560,000 674,870,000 -219,310,000 68% 258,710 848Poole 211,847,000 345,303,000 -133,456,000 61% 142,135 939

Portsmouth 387,108,000 625,150,000 -238,042,000 62% 207,121 1,149

Powys 316,770,000 498,150,000 -181,380,000 64% 131,313 1,381

Preston 142,048,000 199,501,000 -57,453,000 71% 135,081 425

Purbeck 20,162,000 30,984,000 -10,822,000 65% 45,190 239

Reading 273,682,000 417,025,000 -143,343,000 66% 154,234 929

Redbridge 405,396,000 626,446,000 -221,050,000 65% 270,501 817Redcar and Cleveland 393,619,000 468,694,000 -75,075,000 84% 137,398 546

Redditch 67,536,000 110,843,000 -43,307,000 61% 78,666 551

Reigate and Banstead 81,724,000 119,136,000 -37,412,000 69% 138,639 270

Renfrewshire 735,798,000 820,048,000 -84,250,000 90% 170,250 495

Rhondda Cynon Taff 539,437,000 1,022,784,000 -483,347,000 53% 234,309 2,063

Ribble Valley 29,461,000 39,687,000 -10,226,000 74% 57,992 176

Richmond upon Thames 371,886,000 482,498,000 -110,612,000 77% 190,920 579Richmondshire 24,308,000 36,679,000 -15,371,000 66% 52,957 290

Rochdale 600,700,000 732,300,000 -131,600,000 82% 205,190 641

Rochford 31,973,000 50,639,000 -18,666,000 63% 83,354 224

Rossendale 42,405,000 64,334,000 -21,929,000 66% 67,396 325

Rother 51,521,000 64,585,000 -13,064,000 80% 89,817 145

Rotherham 612,200,000 850,200,000 -238,000,000 72% 254,605 935

Rugby 59,854,000 79,612,000 -19,758,000 75% 94,188 210





of l iabil ities


population ( £)Runnymede 60,579,000 75,801,000 -15,222,000 80% 85,920 177

Rushcliffe 44,495,000 64,804,000 -20,309,000 69% 112,831 180

Rushmoor 53,750,000 90,220,000 -36,470,000 60% 91,978 397

Rutland 43,420,000 60,139,000 -16,719,000 72% 38,559 434

Ryedale 32,895,000 51,112,000 -18,217,000 64% 53,558 340

Salford 731,800,000 898,100,000 -166,300,000 81% 228,992 726

Sandwell 683,392,000 1,040,253,000 -356,861,000 66% 292,799 1,219Scarborough 80,674,000 143,332,000 -62,658,000 56% 108,590 577

Scottish Borders 339,303,000 421,281,000 -81,978,000 81% 112,870 726

Sedgemoor 53,895,000 94,217,000 -40,322,000 57% 112,798 357

Sefton 481,568,000 715,364,000 -233,796,000 67% 272,876 857

Selby 26,932,000 45,428,000 -18,496,000 59% 82,927 223

Sevenoaks 57,174,000 91,686,000 -34,512,000 62% 114,087 303

Sheffield 1,296,039,000 1,859,352,000 -563,313,000 70% 555,507 1,014Shepway 61,091,000 94,588,000 -33,497,000 65% 101,201 331

Shetland Islands 1,994,000 2,493,000 -499,000 80% 22,400 22

Shropshire 530,454,000 764,460,000 -234,006,000 69% 293,378 798

Slough 177,450,000 274,436,000 -96,986,000 65% 131,084 740

Solihull 360,284,000 481,270,000 -120,986,000 75% 206,091 587

Somerset 560,702,000 954,776,000 -394,074,000 59% 525,186 750

South Ayrshire 442,802,000 486,080,000 -43,278,000 91% 111,440 388South Bucks 30,629,000 42,084,000 -11,455,000 73% 67,477 170

South Cambridgeshire 64,135,000 95,703,000 -31,568,000 67% 146,406 216

South Derbyshire 43,130,000 60,575,000 -17,445,000 71% 93,913 186

South Gloucestershire 425,704,000 571,018,000 -145,314,000 75% 264,826 549

South Hams 65,821,000 80,389,000 -14,861,000 82% 83,724 177

South Holland 37,940,000 54,136,000 -16,196,000 70% 84,561 192

South Kesteven 57,791,000 80,340,000 -22,549,000 72% 132,271 170





of l iabil ities


population ( £)South Lakeland 62,993,000 86,418,000 -23,425,000 73% 103,741 226

South Lanarkshire 1,112,140,000 1,348,280,000 -236,140,000 82% 311,880 757

South Norfolk 49,268,000 67,856,000 -18,588,000 73% 121,780 153

South Northamptonshire 32,922,000 55,586,000 -22,664,000 59% 88,782 255

South Oxfordshire 63,178,000 81,474,000 -18,296,000 78% 130,987 140

South Ribble 52,109,000 73,199,000 -21,090,000 71% 108,349 195

South Somerset 63,477,000 108,247,000 -44,770,000 59% 158,627 282South Staffordshire 31,754,000 49,147,000 -17,393,000 65% 106,592 163

South Tyneside 436,590,000 645,950,000 -209,360,000 68% 153,670 1,362

Southampton 457,280,000 726,930,000 -269,650,000 63% 239,732 1,125

Southend-on-Sea 245,676,000 371,991,000 -126,315,000 66% 165,311 764

Southwark 781,900,000 1,229,400,000 -447,500,000 64% 287,041 1,559

Spelthorne 55,312,000 77,118,000 -21,806,000 72% 93,466 233

St Albans 64,491,000 98,008,000 -33,517,000 66% 138,753 242St Edmundsbury 84,185,000 105,715,000 -21,530,000 80% 104,533 206

St. Helens 419,160,000 572,119,000 -152,958,000 73% 177,363 862

Stafford 61,503,000 92,828,000 -31,325,000 66% 125,968 249

Staffordshire 1,085,600,000 1,654,000,000 -568,400,000 66% 831,290 684

Staffordshire Moorlands 36,998,000 59,458,000 -22,460,000 62% 95,427 235

Stevenage 74,607,000 110,238,000 -35,631,000 68% 81,766 436

Stirling 275,863,000 401,175,000 -125,312,000 69% 89,850 1,395Stockport 477,500,000 550,600,000 -73,100,000 87% 284,645 257

Stockton-on-Tees 517,701,000 602,730,000 -85,029,000 86% 192,389 442

Stoke-on-Trent 569,115,000 807,549,000 -238,434,000 70% 240,072 993

Strabane 19,282,458 22,407,358 -3,124,900 86% 40,099 78

Stratford-on-Avon 54,792,000 75,634,000 -20,842,000 72% 118,985 175

Stroud 51,288,000 78,157,000 -26,869,000 66% 111,717 241

Suffolk 794,473,000 996,649,000 -202,176,000 80% 719,511 281





of l iabil ities


population ( £)Suffolk Coastal 58,868,000 77,231,000 -18,363,000 76% 124,281 148

Sunderland 790,960,000 1,227,540,000 -436,580,000 64% 283,509 1,540

Surrey 998,457,000 1,459,701,000 -461,244,000 68% 1,127,322 409

Surrey Heath 51,612,000 70,511,000 -18,899,000 73% 84,510 224

Sutton 333,575,000 544,805,000 -211,230,000 61% 194,195 1,088

Swale 50,841,000 78,280,000 -27,439,000 65% 133,437 206

Swansea 627,970,000 993,100,000 -365,130,000 63% 232,501 1,570Swindon 307,608,000 458,982,000 -151,374,000 67% 201,757 750

Tameside 615,100,000 753,000,000 -137,900,000 82% 216,882 636

Tamworth 50,629,000 73,134,000 -22,505,000 69% 76,003 296

Tandridge 45,233,000 69,150,000 -23,917,000 65% 83,142 288

Taunton Deane 63,636,000 109,053,000 -45,417,000 58% 109,379 415

Teignbridge 59,916,000 96,264,000 -41,658,000 62% 127,291 327

Telford and Wrekin 294,478,000 416,773,000 -122,295,000 71% 162,613 752Tendring 74,242,000 112,092,000 -37,850,000 66% 148,543 255

Test Valley 60,930,000 97,170,000 -39,440,000 63% 113,465 348

Tewkesbury 29,637,000 49,303,000 -19,666,000 60% 81,690 241

Thanet 100,138,000 152,387,000 -52,249,000 66% 132,169 395

Three Rivers 51,432,000 63,961,000 -12,529,000 80% 88,932 141

Thurrock 203,259,000 308,195,000 -104,936,000 66% 159,658 657

Tonbridge and Malling 59,836,000 89,937,000 -30,101,000 67% 118,768 253Torbay 195,500,000 272,100,000 -76,600,000 72% 134,271 570

Torfaen 231,436,000 356,361,000 -124,925,000 65% 90,533 1,380

Torridge 31,169,000 49,455,000 -18,286,000 63% 65,831 278

Tower Hamlets 740,326,000 1,042,983,000 -302,657,000 71% 237,896 1,272

Trafford 445,600,000 557,500,000 -111,900,000 80% 217,307 515

Tunbridge Wells 57,299,000 83,659,000 -26,360,000 68% 108,173 244

Uttlesford 42,603,000 61,763,000 -19,160,000 69% 77,501 247





of l iabil ities


population ( £) Vale of Glamorgan 222,300,000 370,520,000 -148,220,000 60% 124,976 1,186

Vale of White Horse 40,209,000 59,098,000 -18,889,000 68% 119,814 158

Wakefield 993,900,000 1,377,000,000 -383,100,000 72% 325,573 1,177

Walsall 471,690,000 777,248,000 -305,558,000 61% 256,898 1,189

Waltham Forest 445,895,000 792,445,000 -346,550,000 56% 227,145 1,526

Wandsworth 871,090,000 908,760,000 -88,911,000 96% 289,574 307

Warrington 393,746,000 481,823,000 -88,077,000 82% 198,905 443Warwick 74,916,000 96,234,000 -21,318,000 78% 138,756 154

Warwickshire 642,100,000 878,400,000 -236,300,000 73% 535,982 441

Watford 84,947,000 128,930,000 -43,983,000 66% 86,003 511

Waveney 80,107,000 100,536,000 -20,429,000 80% 117,535 174

Waverley 75,434,000 104,757,000 -29,323,000 72% 120,252 244

Wealden 89,523,000 106,075,000 -16,552,000 84% 144,096 115

Wellingborough 40,641,000 63,778,000 -23,137,000 64% 75,733 306Welwyn Hatfield 85,444,000 123,221,000 -37,777,000 69% 114,368 330

West Berkshire 177,843,000 273,917,000 -96,074,000 65% 153,975 624

West Devon 18,376,000 29,212,000 -10,836,000 63% 53,063 204

West Dorset 58,569,000 77,917,000 -19,348,000 75% 96,712 200

West Dunbartonshire 437,453,000 473,997,000 -36,544,000 92% 90,570 403

West Lancashire 92,798,000 130,011,000 -37,213,000 71% 110,267 337

West Lindsey 33,683,000 50,390,000 -16,707,000 67% 89,401 187West Lothian 436,031,000 522,106,000 -86,075,000 84% 172,080 500

West Oxfordshire 32,907,000 47,495,000 -14,588,000 69% 103,832 140

West Somerset 16,295,000 28,635,000 -12,340,000 57% 35,364 349

West Sussex 866,300,000 1,095,000,000 -228,700,000 79% 799,701 286

Westminster 541,280,000 922,170,000 -380,890,000 59% 253,112 1,505

Weymouth and Portland 51,046,000 76,428,000 -25,382,000 67% 63,532 400

Wigan 681,100,000 819,000,000 -137,900,000 83% 307,577 448





of l iabil ities


population ( £)Wiltshire 613,202,000 924,626,000 -311,424,000 66% 459,835 677

Winchester 63,360,000 105,950,000 -42,590,000 60% 114,252 373

Windsor and Maidenhead 186,066,000 290,786,000 -104,720,000 64% 146,148 717

Wirral 683,832,000 983,921,000 -300,089,000 70% 308,837 972

Woking 69,987,000 102,279,000 -32,292,000 68% 93,499 345

Wokingham 144,283,000 208,686,000 -64,403,000 69% 163,222 395

Wolverhampton 666,956,000 1,034,800,000 -367,844,000 64% 239,354 1,537Worcester 52,615,000 77,499,000 -24,884,000 68% 94,763 263

Worcestershire 523,811,000 779,217,000 -255,406,000 67% 557,426 458

Worthing 36,760,000 70,530,000 -33,770,000 52% 103,179 327

Wrexham 323,015,000 500,300,000 -177,285,000 65% 133,559 1,327

Wychavon 44,602,000 71,462,000 -26,860,000 62% 117,028 230

Wycombe 109,276,000 135,641,000 -26,365,000 81% 164,805 160

Wyre 56,860,000 80,547,000 -23,687,000 71% 111,391 213Wyre Forest 53,779,000 86,000,000 -32,221,000 63% 98,147 328

York 277,696,000 414,656,000 -136,960,000 67% 202,447 677

Totals: 132 ,442,891,164 186,540,224,206 -54 ,160,763,041

pension deficits 2012 uk

Documents