30. Pension costs
During 2023, the Charity operated a defined benefit pension scheme for employees who joined the scheme before 30 April 2005,
the date the scheme was finally closed to all new entrants. On 30 June 2010, the scheme closed to the accrual of future benefits.
The assets of the defined benefit scheme are held separately from those of the Charity in an independently administered fund.
From 1 May 2004, the Charity has paid contributions for eligible employees into a stakeholder pension scheme. The Charity has
also paid contributions for eligible employees into the National Health Service (NHS) Pension.
Macmillan defined benefit scheme
The actuary has computed the following information about the financial position of the scheme as at 31 December 2023:
2023 2022
Scheme assets and liabilities £'000 £'000
Fair value of the scheme assets 39,338 37,969
Present value of scheme liabilities (30,024) (28,168)
Net surplus 9,314 9,801
Following closure of the scheme to future accrual, in accordance with Financial Reporting Standard (FRS) 102, the scheme surplus
is not recognised on the Charity's Balance Sheet.
Scheme funds are administered by the scheme's trustees and are independent of the Charity's finances. The scheme is a UK
based defined benefit scheme, providing benefits at retirement and on death in service.
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Environmental, social
and governance review
Financial review
Strategic report
Overview
Financial statements
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