49
WWT Report and Financial Statements 2012/13
27. Pension commitments (continued)
Amount recognised in the Statement of Financial Activities (SoFA):
Other assumptions:
2013
£’000
2012
£’000
Expected return on assets
(418)
(501)
Pension scheme expenses
n/a
n/a
Interest cost
452
499
Total operating charge/(credit)
34
(2)
Analysis of amount recognised in statement of total recognised gains and losses (STRGL):
2013
£’000
2012
£’000
Total actuarial gain/(loss) recognised
(2,120)
(608)
Change in asset not recoverable through future contributions
n/a
n/a
Actuarial (loss)/gain recognised in the SoFA
(2,120)
(608)
Cumulative actuarial loss recognised in the SoFA
(5,111)
(2,991)
Change in fair value of scheme liabilities:
2013
£’000
2012
£’000
Scheme liabilities at the beginning of the year
9,981
9,281
Interest cost
452
499
Pension scheme expenses
n/a
n/a
Benefits paid
(331)
(414)
Actuarial (gain)/loss
3,112
615
Scheme liabilities at the end of the year
13,214
9,981
The duration (average term weighted by the present value of the expected payments) of the future liability cashflows
from the Scheme is 16 years.
The actuarial (gain)/loss can be broken down as follows:
2013
£’000
2012
£’000
Actuarial (gain)/loss resulting from change in assumptions
2,658
615
Actuarial (gain)/loss resulting from experience
454
-
3,112
615
