48
WWT Report and Financial Statements 2012/13
Expected rates of return on assets:
Other assumptions:
2013
% p.a.
2012
% p.a.
Bonds
2.8
3.7
Equities
4.5
5.6
Property
4.5
5.6
Cash
2.0
2.3
Annuities
3.2
4.2
Expected rates of return are after deducting an allowance for the Scheme’s expenses.
Sensitivity to the actuarial assumptions:
Assumption
Change in assumption
Impact on scheme liabilities
Discount rate
Increase/decrease by 0.5%
Decrease/increase by 8%
Retail price inflation
Increase/decrease by 0.5%
Increase/decrease by 9%
Life expectancy
Increase/decrease by one year
Increase/decrease by 4%
Breakdown of fair value of scheme assets:
Other assumptions:
2013
2012
£’000
£’000
Bonds
3,080
2,887
Equities
2,852
2,600
Property
347
373
Cash
122
95
Annuities
4,393
3,505
10,794
9,460
The scheme has no investments in any financial instruments issued by, or any property owned by,
the Wildfowl & Wetlands Trust.
Amounts recognised in the Balance Sheet:
2013
2012
£’000
£’000
Present value of funded obligations
13,214
9,981
Fair value of scheme assets
(10,794)
(9,460)
2,420
521
Present value of unfunded obligations
-
-
Unrecognised past service cost
-
-
2,420
521
Asset not recoverable through future contributions
n/a
n/a
Deficit
2,420
521
27. Pension commitments (continued)
