The net expenditure projections for the NHS Pension Scheme, used to build up the financial statement and the Budget report, reflect assumptions set by NHS Pensions after taking into account comments from their actuarial advisers, the Government Actuary's Department. The actuarial assumptions for the scheme can be found in the latest full actuarial valuation of the scheme which was published in December 2007. A copy of the valuation has been placed in the Library.