Report
Annual report and accounts 2023 to 2024
The Gambling Commission's 2023 to 2024 Annual report and accounts. For the period 1 April 2023 to 31 March 2024.
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
| Description | 2023 £ thousands |
2021 £ 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).
Last updated: 18 October 2023
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