GOVERNMENT OF THE ANGUILLA

STATUTORY BODY INCOME AND EXPENDITURE DETAILED SHEET

PUBLIC SERVICE PENSION FUND 2026

PLEASE DO NOT EDIT ANY LINE ITEM IN THIS TEMPLATE

2024 2025 2026 2027 2028 Variances

2025 Forecast

Approved Revised 2025 Approved Budget Outturn VS 2026

Unaudited Actuals Budget Budget Forecast Outturn Estimate Forward Estimate Forward Estimate VS 2026 Estimate Estimate

Operational Fees

Fees, Dues and Charges

Interest Income 709,344 610,182 669,210 693,217 724,074 796,481 14% 4%

Rental Income

Other Operational Income 36,885 41,250 34,992 43,000 47,287 52,016 4% 23%

GST Refund

Sale of Goods

Subvention from GOA

Donations and Other Grants

Transactions between Statutory Bodies

Pension and Benefit Contributions (ASSB & PSPF) 10,907,289 10,756,092 11,217,751 12,279,653 13,507,619 14,858,381 14% 9%

TOTAL INCOME 11,653,518 11,407,524 - 11,921,953 13,015,871 14,278,980 15,706,877 14% 9%

Salaries 487,205 488,232 459,857 488,232 535,960 535,960 0% 6%

Wages 4,200 4,200 4,200 4,200 4,200 4,200 0% 0%

Pension and Gratuities 29,294 29,688 29,294 29,996 29,996 29,996 1% 2%

Social Security Contributions 20,694 18,731 16,729 18,731 21,408 21,408 0% 12%

Allowances

Staff Medical Insurance 26,640 26,640 25,308 26,640 26,640 26,640 0% 5%

Rewards & Incentives 1,544 28,000 2,532 28,000 28,000 28,000 0% 1006%

Other - 5,100 - 55,505 5,100 5,100 988%

Total Personnel Costs 569,578 600,591 - 537,920 651,303 651,303 651,303 8% 21%

Advertising and Promotions

Auditing and Accounting - 140,000 - 140,000 80,000 80,000 0%

Bad Debt write off/ increase provisions

Bank Charges 2,272 1,500 3,052 3,000 2,500 2,500 100% -2%

Board Expenses

Communications Expenses

Computer License Software and Hardware Maintenance

Debt Service Interests

Depreciation and Amortization 23,463 1,775 1,775 7,000 7,000 7,000 294% 294%

Directors' fees and expenses 52,800 52,800 50,250 52,800 52,800 52,800 0% 5%

Expenditure paid to other Government Entities

Hosting and Entertainment 4,034 5,000 1,800 5,000 5,000 5,000 0% -91%

Insurance

International Travel and Subsistence - 5,000 - 5,000 5,000 5,000 0%

Local Travel and Subsistence 3,214 3,500 2,563 3,500 3,500 3,500 0% 37%

Maintenance Expenses 611 3,500 - 3,500 3,500 3,500 0%

Office Expenses 12,182 10,000 12,067 10,000 10,000 10,000 0% -17%

Other Operating Expenses 5,419 6,000 4,000 6,000 6,000 6,000 0% 50%

Other Supplies, Materials and Equipment

Pension & Long Term Benefits (ASSB & PSPF ) 12,276,092 11,230,000 10,729,974 12,121,000 12,218,984 12,763,004 8% 13% Professional and Consultancy Services 104,601 62,000 57,071 62,000 62,000 62,000 0% 9%

Rental of Equipment

Rental of Property 32,656 35,256 40,680 40,680 40,680 40,680 15% 0%

Short Term Benefits (ASSB)

Subscriptions and Contributions

Subscriptions, Periodicals, Books, etc.

Sundry Expenses

Training - 15,000 14,000 15,000 15,000 15,000 0% 7%

Uniforms & Protective Clothing 4,500

Utilities 16,326 21,340 14,590 21,340 23,800 23,800 0% 46%

Water Production Costs (WCA)

Operating Costs 12,533,669 11,592,671 - 10,931,822 12,495,820 12,540,264 13,079,784 8% 14%

Total Expenditure 13,103,247 12,193,262 - 11,469,742 13,147,123 13,191,567 13,731,087 8% 15%

Operating Deficit/Surplus before Capital Projects (1,449,729) (785,738) - 452,211 (131,253) 1,087,412 1,975,790 -83% -129%

Capital Projects 35,000 17,732 30,000 50,000 40,000

Operating Deficit /Surplus after Capital Projects (1,449,729) (820,738) 434,479 (161,253) 1,037,412 1,935,790 -80% -137%

Government Transfer (Statutory transfers of Surpluses)

Net Surplus/Deficit after GoA Transfer GOVERNMENT OF ANGUILLA

Estimate of Human Resources for 2026

PUBLIC SERVICE PENSION FUND

2026 2025

PUBLIC SERVICE PENSION FUND Grade Human Payroll Cost Human Payroll Cost

Resources Estimate Resources Estimate

Administrator B 1 160,656 1 160,656

Finance Manager D 1 127,512 1 127,512

Accounts and Loans Officer F 1 89,700 1 89,700

Accounts Officer K 1 60,432 1 60,432

Pension Officer L 1 49,932 1 49,932

Salary Staff 5 488,232 5 488,232

Temporary Cleaner 1 4,200 1 4,200

Waged Staff 1 4,200 1 4,200

PUBLIC SERVICE PENSION FUND 6 492,432 6 492,432 GOVERNMENT OF ANGUILLA

Programme and Performance Indicators for 2026

Public Service Pension Fund

STATUTORY BODY SUMMARY

MISSION:

Dedicated to effectively managing the Pension Fund in an actuarially sound manner and provide meaningful retirement and related benefits to Contributors and their dependants.

STRATEGIC PRIORITIES:

To be an effective provider of retirement benefits to ensure peace of mind to Contributors and a level of service that exceeds expectations.

EXPENDITURE - BY PROGRAMME

Programme/Department 2024 2025 Approved 2025 2025 Forecast 2026 Budget 2027 Forward 2028 Forward

Budget Revised Outturn Estimates Estimates Estimates

Budget

Operating Expenditure $ 13,103,247 $ 12,193,262 $ - $ 11,469,742 $ 13,147,123 $ 13,191,567 $ 13,731,087

Capital Expenditure $ - $ 35,000 $ - $ 17,732 $ 30,000 $ 50,000 $ 40,000

TOTAL AGENCY BUDGET CEILING $ 13,103,247 $ 12,228,262 $ - $ 11,487,474 $ 13,177,123 $ 13,241,567 $ 13,771,087

STATUTORY BODY STAFFING RESOURCES – Actual Number of Staff by Category

Executive/Managerial 2 2 2 2 2 2

Technical/Front Line Services 3 3 3 3 3 3

Administrative Support 0 0 0 0 0 0

Wages Staff 1 1 1 1 1 1

TOTAL AGENCY STAFFING 6 6 6 0 6 6 6

PROGRAMME PERFORMANCE INFORMATION

KEY PROGRAMME STRATEGIES FOR 2026 ACHIEVEMENTS/PROGRESS IN 2025

One new area of focus will be on retirement planning. The objective is to ensure new retirees plan for retirement The Pension loan system is live and being used to process loans. Use of the system will make the

and do not just let it happen. Financial literacy has been and will continue to be emphasized to contributors and monthly calculation of principal and interest more efficient and provide timely and accurate data on all

high schoolers through various sessions, workshops etc. loans.

Improving usage/functionality our two systems- the Pension Management system and the Loan system. Governance training for Chairman and Administrator through the Chartered Governance Institute of

Canada.

KEY PROGRAMME STRATEGIES 2026 (Aimed at improving programme performance)

Further training with the new loan system is necessary to ensure all staff can fully utilise the system. If necessary additional functionality will be explored to ensure value for money and the highest level of service possible.

Improving the functionality of the current Pension Management system to include a feature for contributors and pensioners to check their personal contributions and pension payment history.

[INSERT KEY STRATEGY 3]

KEY PERFORMANCE INDICATORS 2024 Actual 2025 Planned 2025 Revised 2025 Outturn 2026 Estimate 2027 Estimate 2028 Estimate

Output Indicators (the quantity of output or services delivered by the programme)

KPI 1 Pension Loan Programme- Total Loans Processed 296 300 280 275 330 350 350

KPI 2 Pension Information, Retirement and Financial Sessions 2 5 5 5 5 5 5

KPI 3 External Contributor Pension Data Audits 2 2 0 2 2 2

Outcome Indicators (the planned or achieved outcomes or impacts of the programme and/or effectiveness in achieving programme objectives)

Pension Loan Programme- total loans processed within the set time frame of 5 working days. We

estimate that more than 95% of loans will be processed in the required timeframe.

Information Sessions- number of participants reporting increased understanding of pensions,

retirement and financial literacy. A survey will be created to capture this and distributed following

External Contributor Pension Data Audits- Reduction in discrepancies identified during audit will be

tracked. A list of issues will be completed and used to measure future compliance.