BHRUT annual report 2009 - Barking Havering and Redbridge ...

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Annual Report & Accounts 2009-2010 59 Transfer between Funds Scheme members have the option to transfer their pension between the NHS Pension Scheme and another scheme when they move into or out of NHS employment. Preserved Benefits Where a scheme member ceases NHS employment with more than two years service they can preserve their accrued NHS pension for payment when they reach retirement age. 12. Retirement due to ill health During 2009/10 there were 9 (2008/09, 11) early retirements from the NHS Trust agreed on the grounds of ill-health. The estimated additional pension liabilities of these ill-health retirements will be £440,133 (2008/09: £591,581). The cost of these illhealth retirements will be borne by the NHS Business Services Authority - Pensions Division. Compensation for Early Retirement Where a member of the Scheme is made redundant they may be entitled to early receipt of their pension plus enhancement, at the employer’s cost. 13. Better Payment Practice Code 13.1 Better Payment Practice Code - measure of compliance 009/10 2008/09 Number £000 Number £000 Total Non-NHS trade invoices paid in the year 71,108 161,919 77,725 155,200 Total Non NHS trade invoices paid within target 47,688 131,858 70,997 141,248 Percentage of Non-NHS trade invoices paid within target 67% 81% 91% 91% Total NHS trade invoices paid in the year 2,817 57,991 3,042 40,628 Total NHS trade invoices paid within target 1,815 34,927 2,051 22,211 Percentage of NHS trade invoices paid within target 64% 60% 67% 55% The Better Payment Practice Code requires the Trust to aim to pay all undisputed invoices by the due date or within 30 days of receipt of goods or a valid invoice, whichever is later. 13.2 The Late Payment of Commercial Debts (Interest) Act 1998 2009/10 2008/09 £000 £000 Amounts included in finance costs from claims made under this legislation 1 0 Compensation paid to cover debt recovery costs under this legislation 0 0 Total 1 0 Annual Accounts
60 Barking, Havering & Redbridge University Hospitals NHS Trust 14. Investment revenue 2009/10 2008/09 £000 £000 Rental revenue: PFI finance lease revenue: planned 0 0 contingent 0 0 Other finance lease revenue 0 0 Interest revenue: Bank accounts 205 414 Other loans and receivables 1,036 0 Impaired financial assets 0 0 Other financial assets 0 0 Total 1,241 414 15. Other gains and losses 2009/10 2008/09 £000 £000 Gain/(loss) on disposal of property, plant and equipment 2,002 (2) Gain/(loss) on disposal of intangible assets 0 0 Gain/(loss) on disposal of financial assets 0 0 Gain/(loss) on foreign exchange 0 0 Change in fair value of financial assets carried at fair value through profit and loss 0 0 Change in fair value of financial liabilities carried at fair value through profit and loss 0 0 Change in fair value of investment property 0 0 Recycling of gain/(loss) from equity on disposal of financial assets available for sale 0 0 Total 2,002 (2) 16. Finance costs 2009/10 2008/09 £000 £000 Interest on loans and overdrafts 0 2 Interest on obligations under finance leases 0 0 Interest on obligations under PFI contracts: - main finance cost 19,843 20,649 - contingent finance cost 0 0 Interest on late payment of commercial debt 1 0 Other interest expense 0 0 Total interest expense 19,844 20,651 Other finance costs 133 141 Total 19,977 20,792 Annual Accounts
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BHRUT annual report 2009 - Barking Havering and Redbridge ...

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