Select Committee on Members' Fund - Report by the Government Actuary on the Valuation of the Fund as at 30 September 2003 Report


3. CHANGES SINCE THE 2000 VALUATION

  3.1  There have been no amendments to the legislation governing the scheme since the last valuation. The amount of Grant in Aid payable from the Exchequer has not changed since the last valuation and remains at £215,000 a year. Three such payments were made by the Exchequer during the period covered by this valuation.

  3.2  No new awards of regular payments have been made since the last valuation (except those made automatically to a spouse on the death of a beneficiary) and none are expected to be made in future. If this practice continues indefinitely, the Fund would eventually have no beneficiaries in receipt of regular payments, although it will be some decades before this position is reached.


 
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Prepared 28 October 2004