RBS 2011 Annual Report Download - page 339

RBS Group 2011 337
The table below sets out the sensitivities of the pension cost for the year and the present value of defined benefit obligations at 31 December to a
change in the principal actuarial assumptions:
Main scheme All schemes
Increase/(decrease) Increase/(decrease)
in pension cost
for year
in obligation
at 31 December
in pension cost
for year
in obligation
at 31 December
2011 2010 2009 2011 2010 2009 2011 2010 2009 2011 2010 2009
£m £m £m £m £m £m £m £m £m £m £m £m
0.25% increase in the discount rate (13) (17) (21) (1,019) (925) (790) (34) (42) (41) (1,360) (1,245) (1,261)
0.25% increase in inflation 60 59 49 911 799 654 88 89 93 1,244 1,106 1,143
0.25% additional rate of increase in
pensions in payment 39 37 33 618 527 442 45 43 47 691 599 596
0.25% additional rate of increase in
deferred pensions 20 21 16 285 265 214 40 44 25 526 497 366
0.25% additional rate of increase in
salaries 66 8 56 56 66 26 30 17 283 270 125
Longevity increase of 1 year 33 34 29 566 519 416 58 59 50 875 781 734
5Auditor’s remuneration
Amounts paid to the Group's auditors for statutory audit and other services are set out below. All audit related and other services are approved by the
Audit Committee and are subject to strict controls to ensure the external auditor’s independence is unaffected by the provision of other services. The
Audit Committee recognise that for certain assignments the auditors are best placed to perform the work economically; for other work the Group selects
the supplier best placed to meet its requirements. The Group’s auditors are permitted to tender for such work in competition with other firms where the
work is permissible under audit independence rules.
The analysis of auditors' remuneration is as follows:
2011
£m
2010
£m
Fees payable for the audit of the Group’s annual accounts 4.0 4.0
Fees payable to the auditor and its associates for other services to the Group
- the audit of the company’s subsidiaries 24.6 26.0
- audit-related assurance services (1) 4.7 4.9
Total audit and audit-related assurance services fees 33.3 34.9
Taxation compliance services 0.1 0.3
Taxation advisory services 0.2 0.2
Other assurance services (2) 1.8 5.0
Corporate finance services (3) 1.7 0.8
Consulting services (4) 3.6 1.8
Total other services 7.4 8.1
Fees payable to the auditor and its associates in respect of audits of associated pension schemes 0.4 0.2
Total 41.1 43.2
Notes:
(1) Includes fees of £0.8 million (2010 - £1.2 million) in relation to reviews of interim financial information, £2.4 million (2010 - £2.0 million) in respect of reports to the Group’s regulators in the UK and
overseas, £1.0 million (2010 - £0.9 million) in respect of internal controls assurance and £0.3 million (2010 - £0.7 million) in relation to non-statutory audit opinions.
(2) Comprises fees of £0.1 million (2010 - £2.9 million) in respect of audit and assurance of financial information in connection with disposals by the Group and £1.7 million (2010 - £2.1 million) in respect
of other assurance services.
(3) Includes fees of £1.0 million (2010 - £0.8 million) in respect of work performed by the auditors as reporting accountants on debt and equity issuances undertaken by the Group, including
securitisations, and £0.7 million (2010 - nil) in respect of reporting accountant services in connection with planned divestments by the Group.
(4) Includes fees of £2.5 million (2010 - £0.3 million) for services provided in respect of US regulatory matters.