Key Statistics
Income and Expenditure
| As at 31st March 2020 (£m) |
As at 31st March 2019 (£m) |
|
|---|---|---|
| Employer Contributions | 115.6 | 112.2 |
| Employee Contributions | 61.4 | 58.7 |
| Transfers in | 17.0 | 11.0 |
| Investment Income | 206.1 | 193.5 |
| Profit and Loss on disposal of investments and changes in the value of investments | 1.4 | 781.5 |
| Total income | 401.5 | 1,156.9 |
| Pensions Paid | 239.3 | 226.5 |
| Retirement Lump Sums | 42.0 | 43.0 |
| Death Lump Sums | 5.8 | 5.8 |
| Transfers Out | 20.5 | 15.8 |
| Refunds | 1.3 | 0.6 |
| Admin Management and Governance Costs | 65.0 | 76.3 |
| Total Expenditure | 373.9 | 368.0 |
| Net increase in the net assets available for benefits during the year | 27.6 | 788.9 |
Asset Allocation
| As at 31st March 2020 (£m) |
As at 31st March 2019 (£m) |
|
|---|---|---|
| Fixed interest securities | 142.5 | 110.7 |
| Index linked securities | - | 283.6 |
| Pooled investment vehicles | 6,913.5 | 7,043.2 |
| Pooled property investments | 1,130.1 | 124 |
| Private equity | 12.5 | - |
| Direct property | 110.2 | 761.9 |
| Cash deposits | 108.8 | 67.1 |
| Loan investments | 3 | - |
| Investment income due | 8.8 | 3.9 |
| Net investment assets | 8,429.4 | 8,394.4 |
Membership Statistics
| 31 March 2020 | Lancashire County Pension Fund | 31 March 2019 |
| 313 | Number of employers with active members1 | 300 |
| 140 | Number of ceased employers (no active members but some outstanding liabilities) | 133 |
| Number of active scheme members2 | ||
| 25,614 | County Council | 25,721 |
| 28,340 | Other employers | 27,422 |
| 53,954 | Total | 53,143 |
| Number of pensioners | ||
| 25,497 | County Council | 24,692 |
| 25,674 | Other employers | 24,651 |
| 51,171 | Total | 49,343 |
| Number of deferred pensioners2 | ||
| 36,753 | County Council | 37,691 |
| 36,272 | Other employers | 36,299 |
| 73,025 | Total | 73,990 |
| 178,150 | Total membership3 | 176,476 |
1 includes employers for whom admission to the Fund is in progress
2 March 2019 membership numbers have been adjusted to transfer 5,089 pending leavers as at that date from active membership category to deferred membership category. An adjustment of 2,985 pending leavers has been made at 31 March 2020.
3 March 2020 membership numbers vary from the Local Pensions Partnership Annual Administration Report for the year ended 31 March 2020 due to the dates at which the reports were produced.
Net Assets of the Scheme
| 31 March 2020 (£m) | Lancashire County Pension Fund | 31 March 2019 (£m) |
| 8,437.7 | 8410.1 |