Suffolk Pension Fund tops £3 billion!
Published on by Steve Warner
We were told today that the value of the pension fund has reached £3bn. Since so much of it is invested in shares, the value changes by the minute, but this is a definite high water mark.
However, whatever the Fund value, it is completely meaningless to every member of the Fund, since it is a defined benefit scheme – the benefits are related to what you get paid and how long you were paid it, not to what you (or your employer) pays in (which would be a ‘defined contribution’ scheme). If we had a pound for every time I have explained that to a member, the Fund would be up to about £6bn!