§ Mr. HealdTo ask the Chancellor of the Exchequer 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. [104931]
§ Mr. BoatengThe only public body which the Treasury sponsors that has a pension scheme is the Bank of England. The Bank has a funded defined benefit scheme providing benefits based on final pensionable pay.
The actuarial value at the valuation of February 2002, using the projected unit method, gave the Fund's assets as £1,431 million, representing 112 per cent. of the benefits that have accrued to date. There was a surplus of £150 million.