HSBC 2014 Annual Report Download - page 129
Download and view the complete annual report
Please find page 129 of the 2014 HSBC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
 |
 |
HSBC BANK PLC
Notes on the Financial Statements (continued)
127
Fair value of plan assets
Present value of defined
benefit obligations
Net benefit asset/(liability)
HSBC Bank
(UK) Pension
Scheme
Other
plans
HSBC Bank
(UK) Pension
Scheme
Other
plans
HSBC Bank
(UK) Pension
Scheme
Other
plans
£m
£m
£m
£m
£m
£m
Net defined benefit liability at 1 January 2013
17,999
298
(16,380)
(478)
1,619
(180)
Current service cost
–
–
(167)
(13)
(167)
(13)
Past service cost and (gains)/ losses from settlements
–
–
280
(3)
280
(3)
Service cost
–
–
113
(16)
113
(16)
Net interest (income)/cost on the net defined benefit
liability
806
8
(721)
(13)
85
(5)
Re–measurement effects recognised in other
comprehensive income
524
5
(1,497)
(3)
(973)
2
- return on plan assets (excluding interest income)
524
5
–
–
524
5
- actuarial losses
–
–
(1,569)
(5)
(1,569)
(5)
- other changes
–
–
72
2
72
2
Exchange differences
–
38
–
(45)
–
(7)
Contributions by the group
387
6
387
6
- normal
207
6
–
–
207
6
- special
180
–
–
–
180
–
Contributions by employees
24
–
(24)
(5)
–
(5)
Benefits paid
(562)
(1)
565
13
3
12
Administrative costs paid by the plan
(22)
–
22
–
–
At 31 December 2013
19,156
354
(17,922)
(547)
1,234
(193)
Present value of defined benefit obligation relating to :
actives
(5,381)
(355)
deferreds
(5,056)
(70)
pensioners
(7,485)
(122)
The group expects to make £146 million of contributions to the HSBC UK Pension Scheme during 2015. Benefits expected
to be paid from the HSBC UK Pension Scheme to retirees over each of the next five years and in aggregate for the five
years thereafter, are as follows:
2015
2016
2017
2018
2019
2020–2024
£m
£m
£m
£m
£m
£m
HSBC Bank (UK) Pension Scheme
622
641
660
680
700
3,829
Fair value of plan assets by asset classes
2014
2013
Fair
value
Quoted
market price
in active
market
No quoted
market
price in
active
market
Thereof
HSBC
Fair
value
Quoted
market price
in active
market
No quoted
market
price in
active
market
Thereof
HSBC
£m
£m
£m
£m
£m
£m
£m
£m
HSBC Bank (UK) Pension Scheme
Fair value of plan assets
22,611
19,156
Equities
3,530
2,924
606
–
2,815
2,218
597
6
Bonds
14,776
14,776
–
–
10,712
10,712
–
–
Derivatives
878
33
845
597
1,710
–
1,710
1,710
Other
3,427
2,378
1,049
–
3,919
3,112
807
–
The actual return on plan assets for the year ended 31 December 2014 was a positive return £3,817 million (2013: positive
return of £1,343 million). The group expects to make £166 million of normal contributions to defined benefit pension
plans during 2015.