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Public Sector Pensions

Volume 403: debated on Thursday 10 April 2003

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To ask the Deputy Prime Minister if he will list the (a) funded and (b) unfunded public sector pension schemes for which his Department, its agencies and its non-departmental public bodies are responsible; when the last actuarial valuation was of each scheme; what the value was of the assets at the last actuarial valuation of each scheme; what deficit is disclosed by the last actuarial valuation of each scheme; and if he will make a statement. [104930]

The Office of the Deputy Prime Minister has policy responsibility for the Firefighters' Pension Scheme. There is no pension fund and the scheme is a pay-as-you-go system with costs being paid by the employing authorities out of revenue and receiving contributions from employees. As an unfunded scheme administered by separate fire authorities no formal overall actuarial valuation is carried out.

The last actuarial valuation of the English Partnerships Pension Scheme was carried out as at 31 March 2002. The value of the assets was £76.451 million and no deficit applied as at the last actuarial valuation.