The following notes essentially reproduce VAT Information Sheet 6/1998, Local authority pension funds: VAT treatment and administrative concession.

Pension funds: an overview

To understand how pension funds operate in respect of local government it is necessary to understand how pension funds normally operate. Below is a summary.

It is usual for an employer to separate a pension fund from their business activities, usually by appointing trustees.

Separate trustees

Where the trustees are separate from the business the VAT treatment is as follows:

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