Some UK charities still have significant pension plan risks or very high costs of raising funds?

I had occasion to look through the recent accounts of a sample of UK charities yesterday and was quite surprised to find that:

  • some charities (e.g. Blind Veterans UK and NSPCC) still seem to be exposed to significant financial risk from their defined benefit (DB) pension plans. (See the chart above – the three charities at the end don’t seem to have DB pension plans or have immunised themselves against this risk).
  • the cost of raising funds seems to vary quite a lot across the charities I looked at, ranging from almost a quarter (24%) of income (Woodland Trust), to about a fifth of that (5%, Barnados). (See chart below).