Pension bill payment is council cash-saver
FINANCE bosses at Rotherham Borough Council are aiming to save £675,000 by paying a pension bill early.
Managing director commissioner Stella Manzie has approved a deal with South Yorkshire Pensions Authority.
The council had been due to pay £20.174 million over the next two years but instead agreed a single payment of £19.199 million on April 1.
The £975,000 saving will be offset by temporary borrowing costs, expected to be about £300,000.