Changes in the present value of the liabilities of the Group’s sub-funds of the scheme are as follows:
2015
£’000
2014
£’000
Opening present value of scheme liabilities
211,257
209,653
Current service cost (employer)
1,723
1,794
Current service cost (employee)
639
717
Interest cost 9,137 9,069
Actuarial loss/(gain)
30,099
(316)
Benefits paid
(9,642)
(9,660)
Closing present value of scheme liabilities
243,213
211,257
2015
£’000
2014
£’000
Changes in the market value of the assets of the Group’s sub-funds of the scheme are as follows:
Opening market value of scheme assets
233,631
232,868
Expected return on scheme assets (not restricted)
12,817
11,611
Actuarial gain/(loss)
28,064
(6,047)
Contributions (employer) 4,556 4,142
Contributions (employee) 639 717
Benefits paid
(9,642)
(9,660)
Closing market value of the scheme assets
270,065
233,631
The actual return on assets of the Group’s sub-funds of the scheme over the year to 31 March 2015 was a gain of £40,881,000 (2014: £5,564,000).
An analysis of the movement in the surplus of the Group’s sub-funds of the scheme during the year ended 31 March 2015 is provided in note 21. The
following disclosures represent the analysis of the scheme surplus and the amounts that have been recorded in the consolidated statement of total
recognised gains and losses over a five year history.
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