# The Building Societies (Accounts and Related Provisions) Regulations 1998, Paragraph 11: Staff costs

Extent: E+W+S+N.I.

(1) “Social security costs” means any contribution by the society to any state social security or pension scheme, fund or arrangement.
(2) “Pension costs” includes any costs incurred by the society in respect of any pension scheme established for the purpose of providing pensions for persons currently or formerly employed by the society, any sums set aside for the future payment of pensions directly by the society to current or former employees and any pensions paid directly to such persons without having been first set aside.
(3) Any amount stated in respect of the item “social security costs” 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.

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Source: https://www.legislation.gov.uk/uksi/1998/504/schedule/11/paragraph/11 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-11/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.