Annual Report and Financial Statements - VSO

Notes forming part ofthe financial statementsfor the year ended31 March 201321. Pension costsThe charity contributes to two main schemes and to other contribution schemes for certain employees.In 2012/13, the total cost of these contributions was £399,000 (2012: £359,000).The first main scheme is The Pension Trust’s Growth Plan. This is a multi-employer pension plan which, in most respects, is a money purchasearrangement; it does however include some guarantee elements. This scheme has been closed to new entrants since October 2009.Contributions paid into The Pension Trust’s Growth Plan up to and including September 2001 were converted to defined amounts of pensionpayable from normal retirement date. From October 2001, contributions were invested in personal funds that have a capital guaranteeand that are converted to pension on retirement, either within the Growth Plan or by the purchase of an annuity. The capital is guaranteedthrough investing in short-term, high quality securities and deposits.The assets and liabilities of participating employees cannot be separately identified for FRS 17 purposes. As at 31 March 2013,there is an estimated contingent liability of £7 million (2012: £6 million) in the event that VSO were to withdraw its membership ofThe Pension Trust’s Growth Plan. There are currently 70 staff members still contributing to the scheme and VSO has no current plansto withdraw its membership.The second main scheme available to all UK staff is with Scottish Widows. This defined contribution scheme began in October 2009and since that date this has been the primary scheme for the charity’s employees.22. Grants and contractsFrom the Asian Development BankWater and Sanitation for Herding families – Mongolia 50From AusAIDTokaut AIDS III - Papua New Guinea 162Capacity Needs Assessment and Development plan for Papua New Guinea education 235Teacher's College Language Support Project in Papua New Guinea 278Strengthening HIV response - Vanuatu 24Strengthening Education around STIs including HIV 325Other 79From the Department for International Development (DFID)Core grant under strategic partnership agreement 26,000International Citizen Service Contract 7,399International Citizen Service Pilot Programme 2,084Strengthening quality of and access to healthcare in hospitals - Sierra Leone 108VSO Programme in South Sudan 1,241Health Partnership Scheme through THET - Malawi 325Youth Development Programme in Northern Uganda - DFID 187Other 2042013£’000From the European CommissionNon-formal skills and vocational training for jobs in Northern Uganda 137Improving health through community volunteering - Mongolia 88Promoting quality and inclusive education for out of reach children - Nepal 100Other 192From Federal Democratic Republic of Ethiopia - Ministry of Civil ServiceBuilding Ethiopia through Skill, Knowledge and Technology Transfer 116From Irish AidRegional AIDS Initiative for Southern Africa 485From PSO NetherlandsStrengthening Organisational Learning II in Western Africa 186Action Learning & Learn Work Path 1From the Scottish GovernmentSecure Livelihoods in Bangladesh 158Ntcheu Integrated Maternal Health Project - Malawi 120Water Futures: Towards equitable resources strategies (WATERS) - Malawi 10062 Annual Report and Financial Statements 2013Annual Report and Financial Statements 2013 63