We're pleased to announce you can now access the annual report and accounts for the year to 30 September 2025 online.
The Scheme’s net assets fell during the year, as long-term interest rates rose
At 30 September 2025, the Scheme’s net assets stood at £2,556.5 million, compared with £2,839.3 million the previous year. The decrease of £282.7 million was chiefly down to two main factors.
Firstly, money left the Scheme to pay benefits. Secondly, the value of the Scheme’s investments fell as long-term interest rates rose. This doesn’t impact the payment of your pension benefits, as the Trustee’s aim is that the value of the Scheme assets will rise and fall as the amount needed to pay future benefits goes up and down in line with changes in long-term interest rates.
This investment strategy is designed to support the long-term payment of members’ benefits.
The Scheme looks after the pensions of 21,397 members and beneficiaries
The Scheme had 21,397 members and beneficiaries at 30 September 2025, made up of 9 active members, 10,549 deferred members, and 10,839 pensioners.
We’re now connected to pensions dashboards
Pensions dashboards are a government initiative designed to make it easier to keep track of any pensions you haven’t started taking. They’ll allow you to access information about your future pensions, including your State Pension, online in one place.
We connected to the pension dashboard ecosystem in September 2025, in line with legal requirements. This means that, once dashboards go live, you’ll be able to see your future YCB pension on any dashboard you sign up to.
There’s nothing you need to do for now. We’ll keep you updated when dashboards go live.
The latest Scheme documents are now available to read online, including: