FOI Request - Public Sector Pensions
It was reported in the press last week that and I quote:
'But the truth is that around 30% of what is paid in council tax is swallowed immediately to service gold-standard public service pensions.'
My FOI request to Moray Council is what percentage of council tax collected by Moray Council is swallowed up to service public sector pensions?
Income to fund revenue expenditure comes from three main sources: Specific ring-fence grants, Non-Domestic Rate Income and General Revenue Grant from the Scottish Government; Council Tax and income from fees and charges for services.
In 2014/15, Council Tax, which has been frozen at the 2007/08 levels, represented approximately 14% of total revenue income and amounted to £35,026,000.
The amount paid in pension costs represents 6.9% of total revenue expenditure.
Assuming that all revenue funding streams contribute proportionately to expenditure, approximately 6.9% of Council Tax was used to fund the pensions.
6.9% of Council Tax equates to approximately £2,417,000.