59
Rugby Football Union Report 2007 | Financial Statements
| 21. Pension commitments (continued) | ||||||
|---|---|---|---|---|---|---|
| The assets in the scheme and expected rates of return were: | ||||||
Long term rate of return 2007 % |
Value at 2007 £m |
Long term rate of return 2007 % |
Value at 2007 £m |
Long term rate of return 2007 % |
Value at 2005 £m |
|
| Equities | 7.25% |
7.3 |
6.10% |
5.2 |
5.75% |
3.4 |
| Bonds | 5.80% |
10.6 |
5.25% |
10.3 |
5.00% |
10.2 |
| Other | 4.75% |
0.2 |
4.50% |
0.1 |
4.75% |
0.1 |
| Total market value of assets | 18.1 |
15.6 |
13.7 |
|||
| Actuarial value of liability | (16.0) |
(16.7) |
(15.4) |
|||
| Net pension asset /(liability) | 2.1 |
(1.1) |
(1.7) |
|||
| Deferred tax effect | (0.7) |
0.3 |
0.5 |
|||
| Total | 1.4 |
(0.8) |
(1.2) |
|||
| Analysis of the amount charged to operating profit in respect of defined benefit schemes |
2007 |
2006 |
||||
£m |
£m |
|||||
| Current service cost | 0.9 |
0.9 |
||||
| Total operating charge | 0.9 |
0.9 |
||||
| Movement in surplus/deficit during the year | 2007 |
2006 |
||||
£m |
£m |
|||||
| Deficit in scheme at beginning of year | (1.1) |
(1.7) |
||||
| Current service cost | (0.9) |
(0.9) |
||||
| Contributions | 0.8 |
1.0 |
||||
| Other financial income | (0.1) |
(0.1) |
||||
| Actuarial gain | 3.4 |
0.6 |
||||
| Surplus/(deficit) in scheme at end of year | 2.1 |
(1.1) |
||||
| Related deferred tax (liability)/asset | (0.7) |
0.3 |
||||
| Net pension asset/(liability) | 1.4 |
(0.8) |
||||
| Analysis of amount charged to net finance costs | 2007 |
2006 |
||||
£m |
£m |
|||||
| Expected return on pension scheme assets | 0.9 |
0.7 |
||||
| Interest on pension liabilities | (0.9) |
(0.8) |
||||
| Net return | – |
(0.1) |
||||
| Analysis of amount recognised in statement of total recognised gains and losses (STRGL) |
2007 |
2006 |
||||
£m |
£m |
|||||
| Actual return less expected return on assets | 1.1 |
0.1 |
||||
| Experience gains and losses arising on the scheme liabilities | (0.1) |
– |
||||
| Changes in assumptions underlying the present value of the scheme liabilities | 2.4 |
0.5 |
||||
| Net gain recognised | 3.4 |
0.6 |
||||