Spotlight on our finances

Each year the Trustee produces the Scheme’s Annual Report and Financial Statements, which are audited by KPMG. You can view or download the latest version from the Document library.

DC Section highlights at 5 April 2021

£584.1m

Value of the DC Section assets

9,270

Members in the DC Section

£48.9m

Contributions received during the year*

£21.4m

Benefits paid to members#

£148.4m

Investment returns

*This includes contributions paid by members, the Company and transfers in the DC Section from other arrangements

#This includes benefits paid to members, transfers to other arrangements and administration expenses

Over the year to 5 April 2021 the total value of the DC Section assets increased by £175.2m to 584.1m. The membership of the DC Section also increased by 626 to 9,270 members.

On 5 April 2021 the total assets for the Scheme (the DC Section and the DB Section combined) amounted to £7,791.1m (a reduction of £331.8m since 5 April 2020). Similarly, the total Scheme membership reduced from 41,859 (5 April 2020) to 41,786 ( 5 April 2021).

Performance of the DC Sections investment funds

Each month we publish a ‘Market Commentary’ produced by Hymans Robertson, our DC Section Investment Consultant. You will find this along with the latest fund factsheets (produced by our investment platform provider) on the fund factsheets page of our website.

The chart below shows how each of the individual investment funds available to DC Section members performed over the 12 months to 31 March 2021.

PSPS Cash – active
PSPS Index Linked Gilts – passive
PSPS Index Linked Gilts – active
PSPS Fixed Interest Bonds – active
PSPS Long Dated Gilts – passive
PSPS Corporate Bonds – active
PSPS UK Equity – passive
PSPS UK Equity – active
PSPS Overseas Equity – passive
PSPS Global Equity – active
PSPS Emerging Markets Equity – active
PSPS Total Return Bond Fund – active
PSPS Diversified Growth – active
PSPS Responsible Investment Equity Fund
Prudential With-Profits*

Return for 12 months to 31 March 2021 %

Fund Benchmark

Return for 3 years to 31 March 2021 % p.a.

Fund Benchmark

Note: The performance numbers are for the “white labelled” parent funds in which the members’ underlying fund options are invested. Performance figures are shown gross of fees and may differ slightly from the actual returns achieved by members due to a one-day delay in unit pricing and the deduction of management fees.

* Unitised returns for the Prudential With-Profits fund are for the period from 6 April 2020 to 5 April 2021, and assuming that the contribution was invested without any allowance made for any explicit charges one or three years ago and realised to secure benefits at normal retirement age.