Pension fund performance
Employees of the council are, under their conditions of employment, entitled to a pension. The council's pension fund, which pays for this is, like all organisations up and down the country, has a funding shortfall. The next revaluation will be undertaken in 20010/11 to assess both the value of the fund and the liabilities against it and will determine the level of surplus or deficit. As a result of the performance of the fund, the increase in mortality and the revision to the pension scheme, the council may face an increase in the employer's contribution rate and costs which may impact further on the council's budget over and above that which is already factored in.