Paragraph 10 Staff costs

“Social security costs” means any contribution by the society to any state social security or pension scheme, fund or arrangement.

“Pension costs” includes any other contributions by the society for the purposes of any pension scheme established for the purpose of providing pensions for persons employed by the society, any sums set aside for that purpose, and any amounts paid by the society in respect of pensions without first being set aside.

Any amount stated in respect of either of the above items or in respect of the item “wages and salaries” in the society’s income and expenditure account shall be determined by reference to payments made or costs incurred in respect of all persons employed by the society during the financial year.