Isle of Anglesey County Council Statement of Accounts 200812009

37. EMOLUMENTS
The number of employees (including head teachers and senior school staff) whose
remuneration paid in 2008109, excluding pension contributions but including severance pay,
was £60,000 or more.
Remuneratio~' - Including Severence Pay Excluding Severence Pay
2008109 I 2007108 2008109 2007108
No. of hlo. of No. of
Employees Em1ployees Employees
£60,000- £69,999 7 5 7 5
£70,000- £79,999 5 2 5 2
f80,000- f89,999 1 0 1 0
f90,000- £99,999 0 0 0 0
f100,000- f109,999 1 0 0 0
£1 10,000- f11 9,999 0 1 0 1
£ 120,000- f129,999 0 0 0 0
f130,000- f139,999 1 0 1 0

38. PENSIONS
As part of the terms and conditions of employment of its employees, the Council offers
retirement benefits. Although these benefits will not actually be payable until employees retire,
the Council has a commitment to make payments that needs to be disclosed at the time that
employees earn their future entitlements.

The costs incurred by the Council are through two different pension schemes, all of which
provide defined benefits based on final salary.
Teachers

This is an unfunded scheme administered by the Department for Education and Skills, who set
the contribution rates supported by five yearly actuarial reviews of a notional fund.

Employers' contributions of £3.058 million (f2.968m in 2007108) were made in 2008109 at the
rate of 14.1% of pensionable pay (14.1% in 2007108). In addition, payments relating to
enhancements for early retirements etc. made on a pay-as-you-go basis amounted to £0.592
million (f0.544m in 2007108) or 2.81 % of pensionable pay (2.65% in 2007108).

Other Emplovees
A fund is maintained by the Gwynedd Council under the Local Government Pension Scheme
regulations. Periodic actuarial valuations are carried out. The last valuation of the fund was
undertaken on 31 March 2007 and the estimate of scheme assets and liabilities given below is
based on that valuation with the Actuary taking account of contributions, retirements and fund
performance between that date and 31 March 2009.
During 2008109 employers contributions of £6.833 million (f5.989m in 2007108) were made, at
the rate of 21.0% (19.3% in 2007108) of pensionable pay. The increase follows an actuarial
valuation, as at 31 March 2007, (which was implemented in 2008109) which identified that the
funding level of the Fund at that date was 84% (from 74% in 2004) and that a common rate of
20.1% was necessary to return the fund to 100% funding over a period of 20 years. The
Council's rate was higher than this and it was decided to increase the rate immediately.
Payments relating to enhancements for early retirements amounted to £0.924 million (f0.888m
in 2007108). An Annual Report on the Pension Fund is available from the Pensions Section,
Gwynedd Council.
The capital cost of discretionary increases in pension payments agreed by the Authority during
2008109 is estimated at £ 8,000 (Nil in 2007108).

2008109 Statement of Accounts - Final 43