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Scottish Enterprise operates the Scottish Enterprise Pension & Life Assurance Scheme for colleagues which is a defined benefits scheme that provides benefits in the form of a guaranteed level of pension payable for life. The level of benefits provided depends upon the members' length of service and their final pensionable salary. The assets of the scheme are held separately from those of Scottish Enterprise, being invested by the Trustees of the scheme. There are ten Trustees in total, comprising an independent Chairman, five Trustees appointed by Scottish Enterprise and four nominated by members. The Trustees are responsible for ensuring the scheme is run in accordance with the members' best interests and the pension laws of the United Kingdom, as overseen by the Pensions Regulator.
A full actuarial valuation of the Scottish Enterprise Pension & Life Assurance Scheme was carried out using membership data at 31 March 2023 and the results of that valuation have been projected to 31 March 2026 by Isio, qualified independent actuaries. The next formal valuation will be carried out during 2026-27 based on data at 31 March 2026.
| 2026 | 2025 | |
| £000 | £000 | |
| Present value of funded defined benefit obligations | (522,803) | (532,756) |
| Fair value of plan assets | 534,152 | 524,506 |
| Recognised surplus/(deficit) in the scheme | 11,349 | (8,250) |