Annual Reports Keepmoat Homes Annual Report 2018 | Page 58

Notes to the consolidated financial statements
Keepmoat.com
22 – Retirement benefit schemes (continued)
The mortality assumptions used were as follows:
2018 2017
Years Years
- Men 22.5 22.5
- Women 24.6 24.6
- Men 24.7 24.7
- Women 26.9 26.9
2018 2017
£’000 £’000
Present value of scheme liabilities (23) (329)
Retirement benefit liability (23) (329)
Contingency fund receivable (amount included in other receivables – note 14) 2,712 1,366
Net funding status 2,689 1,037
Analysis of amounts credited /(charged) to the consolidated
statement of comprehensive income 2018 2017
£’000 £’000
1,652 (292)
Pensioner age at 65:
Current member age at 45:
The net funding status of the plan is as follows:
Actuarial gain /(loss) arising on retirement benefit obligations
Defined contribution schemes
The pension cost charged to the income statement in respect of the defined contribution scheme during the year was
£1,204,000 (2017: £3,219,000 comparative includes discontinued operations) representing contributions payable in the year.
Contributions due to the defined contribution schemes at the year end were £92,000 (2017: £369,000 comparative includes
discontinued operations).
Multi-employer schemes
The multi-employer schemes formed part of the Regeneration business disposal group (note 7) and were reclassified as held
for sale as at 31 March 2017 and subsequently disposed of on 30 April 2017. The Group participated in three multi-employer
schemes during the year, namely West Yorkshire Local Government Pension Scheme (“West Yorkshire LGPS”), Durham
County Council Pension Fund (“Durham”) and West Midlands Pension Fund (“West Midlands”). The assets of these schemes
were held in independently administered funds and have been accounted for as defined benefit obligations. The Group was
responsible for funding the pension benefits for its employees only.
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