TRUSTEES' REPORT AND ACCOUNTS 2014
34 Notes to the accounts (continued)
YEAR ENDED 31 DECEMBER 2014
20 PENSIONS (CONTINUED)
Analysis of amount charged to resources expended
2014
£'000
2013
£'000
Current service costs 6,210 5,944
Total operating charge 6,210 5,944
Analysis of amount credited to resources expended
Expected return on pension scheme assets 12,363 8,280
Interest on pension scheme liabilities (10,786) (8,404)
Net return 1,577 (124)
Analysis of amount recognised in statement of total recognised gains and losses
Actual return less expected return on pension scheme assets 7,932 15,667
Experience gains arising on the scheme liabilities 127 700
Changes in assumptions underlying the present value of the scheme liabilities (12,872) (31,254)
Actuarial loss recognised in STRGL (4,813) (14,887)
Analysis of movement in deficit during the year
Deficit in the scheme at beginning of the year (55,179) (49,985)
Current service cost (6,210) (5,944)
Contributions 6,076 15,761
Other finance income 1,577 (124)
Actuarial loss on defined benefit pension scheme (4,813) (14,887)
Deficit in scheme at end of year (58,549) (55,179)
Reconciliation of assets during the year
Assets at beginning of the year 183,908 149,050
Employer contributions 6,076 15,761
Employee contributions 3 3
Benefits paid (5,133) (4,731)
Net transfers out (176) (122)
Expected return on plan assets 12,363 8,280
Assets outperformance 7,932 15,667
Assets at end of the year 204,973 183,908
NOTES TO THE ACCOUNTS