Annual report 2010/11 - East Cheshire NHS Trust

Salary and pension entitlements of seniormanagers – pension benefitsAs Non-Executive members do not receive pensionableremuneration, there will be no entries in respect ofpensions for Non-Executive members.Miss S Campbell, Director of Human Resources andOrganisational Development is employed 1/3 byEast Cheshire NHS TrustLump sumat age 60Total related toReal Real pension at accrued Cash Cash Realincrease in increase in age 60 at pension at equivalent equivalent increase Employer’spension lump sum 31 March 31 March transfer transfer in cash contributionat age 60 at aged 60 2011 2011 value at value at equivalent to(bands of (bands of (bands of (bands of 31 March 31 March transfer stakeholder£2,500) £2,500) £5,000) £5,000) 2011 2010 value pensionName and titles £000 £000 £000 £000 £000 £000 £000 £00Mr J Wilbraham, Chief Executive 0-2.5 0-2.5 40-45 125-130 659 720 -55Mr S North, Director of Finance until 30/09/10 30-35 100-105 635 693 -52Ms V Aherne, Chief Operating Officer /Deputy Chief Executive 0-2.5 0-2.5 30-35 91-95 541 580 -37Miss S Campbell, Director of Human Resources &Organisational Development (1/3) 0-2.5 0-2.5 5-10 25-30 124 124 -81Dr R Stead, Medical Director 0-2.5 0-2.5 70-75 210-215 1,491 1,566 -80Ms K Senior, Interim Chief Operating Officer,until 18/10/10 then Director of Nursing andPatient Care Standards 2.5-5 12.5-15 25-30 60-65 412 378 17A Cash Equivalent Transfer Value (CETV) is the actuariallyassessed capital value of the pension scheme benefits accruedby a member at a particular point in time. The benefits valuedare the member's accrued benefits and any contingentspouse's pension payable from the scheme. A CETV is apayment made by a pension scheme or arrangement to securepension benefits in another pension scheme or arrangementwhen the member leaves a scheme and chooses to transferthe benefits accrued in their former scheme. The pensionfigures shown relate to the benefits that the individual hasaccrued as a consequence of their total membership of thepension scheme, not just their service in a senior capacity towhich the disclosure applies. The CETV figures and the otherpension details include the value of any pension benefits inanother scheme or arrangement which the individual hastransferred to the NHS pension scheme. They also include anyadditional pension benefit accrued to the member as a resultof their purchasing additional years of pension service in thescheme at their own cost. CETVs are calculated within theguidelines and framework prescribed by the Institute andFaculty of Actuaries.Real Increase in CETV - This reflects the increase in CETVeffectively funded by the employer. It takes account of theincrease in accrued pension due to inflation, contributionspaid by the employee (including the value of any benefitstransferred from another scheme or arrangement) and usescommon market valuation factors for the start and end ofthe period.8485