Spring Supplementary Estimates 2010–11
ESTIMATE MEMORANDUM FOR THE TEACHERS’ PENSION SCHEME 2010-2011 SPRING SUPPLEMENTARY
Summary of main changes sought
1. Subject to Parliamentary approval of any necessary Supplementary Estimate, the Teachers’ Pension Scheme Annually Managed Expenditure (AME) will be increased by £1,000 from £13,282,078,000 to £13,282,079,000.
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Teachers’ Pension Scheme
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Winter
Supplementary Provision
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Change
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Spring
Supplementary Provision
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£’000
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£’000
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£’000
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Request for Resource 1
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£13,282,078
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£1
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£13,282,079
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2. The increase in Estimate provision is required to cover an increase in other benefits payable.
Detailed explanation of the changes
3. The net increase in resource of £1,000 is an increase in other benefits payable. This Estimate also increases the Net Cash Requirement by £101,665,000 to cover increases in cash Benefits Payable being higher than anticipated due to larger amounts of pension benefits being taken as Lump Sums.
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