Page 83 - Housing Solutions Annual Report
P. 83
Pensions (continued)
Reconciliation of opening and closing balances
of the present value of scheme liabilities
2020 2019 2018
£’000 £’000 £’000
Opening scheme liabilities 37,104 36,432 36,148
Current service cost 658 811 899
Interest cost 879 920 1,003
Remeasurements (3,851) 1,842 (921)
Benefits paid (1,033) (937) (870)
Contributions by scheme participants 141 166 177
Experience loss on defined benefit obligation 485 - -
Change in demographic assumptions (502) (2,126) -
Past service costs 171 - -
Unfunded pension payments (5) (4) (4)
Closing scheme liabilities 34,047 37,104 36,432
Reconciliation of opening and closing balances
of the fair value of plan assets
2020 2019 2018
£’000 £’000 £’000
Opening fair value of plan assets 17,012 15,765 15,525
Interest income 407 400 431
Return on plan assets (in excess of interest) (655) 1,001 79
Other actuarial losses (760) - -
Administration expenses (10) (10) (10)
Contributions by employer 782 631 437
Contributions by scheme participants 141 166 177
Benefits paid (1,038) (941) (874)
Closing fair value of plan assets 15,879 17,012 15,765
Unfunded pension payments (5) (4) (4)
Closing scheme liabilities 34,047 37,104 36,432
2020 2019 2018
£’000 £’000 £’000
Pension Liability 18,168 20,093 20,667
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16645.02 HS Annual Report 86pp A4 v10.indd 83
16645.02 HS Annual Report 86pp A4 v10.indd 83 10/11/2020 13:35
