Welcome change THE blunt facts about the scheme’s huge deficit are stated clearly on the first page of the report, a dramatic contrast from the previous year’s document which sought to bury the situation. Indeed, all it said was that the result of the March 31, 2008 update and re-assessment would be communicated to members through the 2008 summary funding statement. We continue to be astonished that such an important fact was never included in that particular document and welcome the change in the provision of information. At April 1, 2008 the fund was worth £5,060.7 million. Its income from contributions, transfers from other schemes and investments amounted to £554.8 million. This was offset by pensions and lump sums paid to members, payments to leavers plus fees and expenses for advisers, administration and fund managers which totalled £300.2 million. Added to this, the market value of the fund’s investments fell by £1,033.6 million resulting in the fund only being worth £4,281.7 million at March 31, 2009. The fund has some 90,695 members of whom 44,080 pensioners or dependents of members who have died are receiving pensions. Deferred members total 40,059. Active members add up to around 6,550; 5,858 in the final salary plan, 40 participating in the final salary protection benefit plan and 658 contributing to the career average plan.