RBS 2011 Annual Report Download - page 337

RBS Group 2011 335
Post-retirement mortality assumptions (Main scheme) 2011 2010 2009
Longevity at age 60 for current pensioners (years)
Males 27.3 27.2 27.1
Females 29.6 29.6 29.5
Longevity at age 60 for future pensioners currently aged 40 (years)
Males 29.3 29.3 29.2
Females 30.9 30.8 30.8
Main scheme All schemes
Changes in value of net pension deficit
Fair value
of plan
assets
£m
Present value
of defined
benefit
obligations
£m
Net pension
deficit
£m
Fair value
of plan
assets
£m
Present value
of defined
benefit
obligations
£m
Net pension
deficit
£m
At 1 January 2010 16,603 18,675 2,072 27,925 30,830 2,905
Currency translation and other adjustments — — — (206) (206) —
Income statement
Expected return 1,114 (1,114) 1,428 (1,428)
Interest cost 1,091 1,091 1,402 1,402
Current service cost 345 345 499 499
Past service cost 76 76 67 67
Gains on curtailments — — (78) (78)
1,114 1,512 398 1,428 1,890 462
Statement of comprehensive income
-Actuarial gains and losses 1,718 1,674 (44) 1,797 1,639 (158)
Disposal of subsidiaries — — — (7,993) (8,187) (194)
Contributions by employer - regular 444 — (444) 832 — (832)
Contributions by plan participants and other scheme members — — — 10 10 —
Benefits paid (716) (716) — (922) (922) —
Expenses included in service cost (53) (53) — (55) (55) —
At 1 January 2011 19,110 21,092 1,982 22,816 24,999 2,183
Currency translation and other adjustments — — — (30) (33) (3)
Income statement
Expected return 1,258 (1,258) 1,488 (1,488)
Interest cost 1,150 1,150 1,354 1,354
Current service cost 327 327 440 440
Past service cost 39 39 43 43
1,258 1,516 258 1,488 1,837 349
Statement of comprehensive income
-Actuarial gains and losses 759 1,096 337 636 1,217 581
Contributions by employer 733 — (733) 1,059 — (1,059)
Contributions by plan participants and other scheme members — — — 10 10 —
Benefits paid (698) (698) — (840) (840) —
Expenses included in service cost (51) (51) — (53) (53) —
At 31 December 2011 21,111 22,955 1,844 25,086 27,137 2,051
Net pension deficit comprises 2011
£m
2010
£m
2009
£m
Net assets of schemes in surplus (included in Prepayments, accrued income and other assets, Note 19) (188) (105) (58)
Net liabilities of schemes in deficit 2,239 2,288 2,963
2,051 2,183 2,905