NHS pensions may fall short
Sir John Bourn points to potential underfunding of NHS pension fund, and accuracy of its records
Comptroller and auditor general Sir John Bourn has drawn attention to
potential underfunding of the huge NHS pension fund and the accuracy of its
contribution records.
He signed off the scheme’s resource accounts for 2006/07 unqualified but
added notes warning that the valuation of the fund’s liability is based on 75%
of member records and that the National Audit Office was unable to confirm that
the remaining 25% are similar.
He also pointed out there is no independent validation of employers’
confirmation of the level of employer and employee contributions paid into the
scheme.
The scheme covers NHS staff ranging from the employees of NHS trusts, primary
care trusts, local health boards, health authorities, GP practices and 360 other
bodies.