Notes to the Financial Statements
Notes to the Financial Statements
continued
continued
27 Employee benefit obligations
The pension entitlements of employees, including executive directors, arise under five defined benefit schemes and two defined
contribution schemes and are secured by contributions by the Group to separately administered pension funds in the Republic of
Ireland. The Cahill May Roberts Limited No. 2 Plan wound up with an effective date of 11 January 2016. The assets of the scheme
were distributed in line with members chosen options and no assets or liabilities remain. The Uniphar Superannuation Scheme was
set up in early 2016 to provide pension benefits for some former members of the Cahill May Roberts No. 2 Plan and contributions
are currently being paid into this scheme.
The defined benefit schemes are:
The Allied Pharmaceutical Distributors Limited Pension Plan
The United Pharmacists Co-Operative Society Limited Pension & Life Assurance Scheme
The Whelehan Group Pension Scheme
The Cahill May Roberts Limited Contributory Pension Plan
The Cahill May Roberts Limited No. 2 Plan (wound up on 11 January 2016)
The Uniphar Superannuation Scheme
The pension charge for the year is €953,000 (2015: €537,000) comprising a current service cost of €256,000 (2015: €267,000), a past
service gain of €nil (2015: cost €28,000) and defined contribution scheme costs of €697,000 (2015: €298,000). The net finance costs
resulting from the scheme deficit is €36,000 (2015: €124,000).
Rate of increase in pensionable salaries 0.00 - 2.50% 0.00%
The main financial assumptions used were:
F