City of Glasgow College Annual Report & Accounts 2019-20
CITY OF GLASGOW COLLEGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 JULY 2020
22 PROVISION FOR LIABILITIES AND CHARGES
Pension Provision 2020 2019
Balance at beginning of period 3,893 3,929
Expenditure in the period (257) (234)
Transferred from income and expenditure account 248 198
Balance at end of period 3,884 3,893
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.