Archived decisions

7g

Net actuarial gain/(loss) on pensions

The actuarial gains identified as movements on the Pensions Reserve in 2007/08 can be

analysed into the following categories, measured in absolute amounts and as a percentage

of assets or liabilities at 31 March 2008:

2003/04

2004/05

2005/06

2006/07

2007/08

£'000

£'000

£'000

£'000

£'000

Difference between

70,660

27,240

130,120

-1,420

-98,230

expected and actual

10.4%

3.4%

13.3%

0.1%

9.30%

return on assets

Difference between

actuarial assumptions

-1,410

65,530

1,470

-3,280

28,790

about liabilities and

0.1%

4.7%

0.1%

0.2%

1.90%

actual experience

Changes in assumptions

underlying the

2,310

-252,180

-109,380

7,400

273,490

present value of

0.2%

18.1%

7.0%

0.4%

18.30%

pension liabilities

Net actuarial gain

71,560

-159,410

22,210

2,700

204,050