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Retirement benefits of the Executive Leadership Team members for the year to 31 March 2026 are as follows:
Accrued Pension at normal retirement date as at 31 March 2026 and related lump sum Real increase in pension and related lump sum at pension age Transfer Value (i)
£000 £000 £000 At 31 March 2026 At 31 March 2025 Increase in transfer value during year (net of members' contributions)
Adrian Gillespie 35 – 40, plus lump sum of 105 - 110 2.5 – 5.0 real increase 668 579 28
Jane Martin 45 – 50, plus lump sum of 140 - 145 2.5 – 5.0 real increase 785 669 106
Rhona Allison 35 – 40, plus lump sum of 115 - 120 2.5 – 5.0 real increase 725 595 121
Reuben Aitken 5 – 10, plus lump sum of 15 - 20 0 – 2.5 real increase 33 20 4
Gill McNeill 0 – 5, plus lump sum of 10 - 15 0 – 2.5 real increase 33 18 7
Kerry Sharp 30 – 35, plus lump sum of 95 - 100 5 – 7.5 real increase 440 - 115
i) The cash equivalent transfer value is the actuarially assessed value of the retirement scheme benefits accrued by a member at a point in time. The benefits valued are the member's accrued benefits and include benefits related to service transferred in from previous employment. It represents a payment which would be made by a retirement benefit scheme to secure benefits in another scheme or arrangement should a member leave the scheme and choose to transfer the benefits they have accrued in this and any former scheme. Annual changes in the cash equivalent transfer value are determined by market conditions.