Today we are publishing our 2020/21 audited statement of accounts. Our healthy financial position enables us to distribute a further £5.6 million of surplus funds to our opted-in eligible bodies.
The revenue PSAA receives must cover the costs of auditors and our operating expenses. PSAA operates on a not-for-profit basis. If we have funds that are not required to cover expected costs we return them to scheme members. We made similar distributions of £5.6 million in 2017 and £3.5 million in 2019.
The distribution will be made on or around 13 September 2021.