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Annual Report and Accounts 2022 to 2023

The Gambling Commission's 2022 to 2023 Annual Report and Accounts. For the period 1 April 2022 to 31 March 2023.

  1. Contents
  2. Notes to the accounts
  3. 14. Retirement benefits obligations

14. Retirement benefits obligations

This provision recognises the payments due in respect of a former Chairman of Office of the National Lottery (OFLOT).

As set out in Note 1c, Statement of accounting policies, Pension costs, for further details refer to the Retirement benefits section of the staff report.

Retirement benefit obligations

Retirement benefit obligations
Description 2023
£ thousands
£ thousands
At 1 April 213 215
Interest cost 3 3
Actuarial loss/(gain) in the period (23) 11
Pensions paid in the year (16) (16)
At 31 March 177 213

The pension liability provision of £177,102 is split between liability not later than one year (£17,798), and liability greater than one year (£159,304).

Previous section
13. Provisions for liabilities and charges
Next section
15. Lease liabilities
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