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City of Glasgow College Annual Report & Accounts 2020-21
CITY OF GLASGOW COLLEGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 JULY 2021
21 PROVISION FOR LIABILITIES AND CHARGES
Pension Provision 2021 2020
£000 £000
Balance at beginning of period 3,884 3,893
Expenditure in the period (256) (257)
Transferred from income and expenditure account 36 248
Balance at end of period 3,664 3,884
The value of the provision has been calculated by Hymans Robertson.
The provision is for future pension liabilities arising from staff early retirements and the
equalisation of pension contributions under the Strathclyde Pension Fund (SPF) and Scottish
Teachers Superannuation Scheme (STSS) pension schemes.