An analysis of benefits by participating employer type is detailed below:
| 31 March 2025 | 31 March 2026 | |
| By type of Employer | £000s | £000s |
| Administering Authority | 61,451 | 63,750 |
| Scheduled Bodies | 5,671 | 6,488 |
| Admitted Bodies | 464 | 513 |
| Total | 67,586 | 70,751 |
Refunds to members leaving service 191 198
Individual transfers 10,953 11,319
Total 11,144 11,517
31 March 2025 31 March 2026
£000s £000s
The table below shows a breakdown of the management expenses incurred during the year.
Administrative costs 1,908 2,377
Investment management expenses 3,690 3,962
Oversight and Governance costs 468 560
Total 6,066 6,899
31 March 2025 31 March 2026
£000s £000s
Investment management expenses are further analysed below in line with the CIPFA Guidance on Accounting for Management Costs in the LGPS.
Management fees 3,164 3,365
Performance fees 23 8
Custody fees 182 198
Transaction fees 321 391
Total 3,690 3,962
31 March 2025 31 March 2026
£000's £000's
The fees payable to the Fund's external auditors for the financial year 2025/26 are the published Public Sector Audit Appointments (PSAA) scale fees and may be subject to change.
Payable in respect of external audit 94 91
Total 94 91
31 March 2025 £000's 31 March 2026 £000's