Marks & Spencer Final Salary Pension Scheme - PRAG

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Read this if...
you would like to know
more about the scheme’s
financial position for
the year ended
31 March 2008.
Summary Report
and Accounts 2008
?
Did you know?
The full financial statements of
the scheme are audited by
KPMG LLP. The auditor’s report
on the financial statements is
unqualified, which means in
KPMG’s view, the accounts
represent a true and fair value of
the transactions of the scheme.
*
Good to know
Any figures within brackets are
negative amounts.
!
Important note
If you would like a copy of the
full Annual Report and Accounts,
you can request this from the
M&S Pensions Administration
team in Salford Quays (see back
page for contact details).
Each year, the Trustee of the scheme produces a formal Report and
Accounts, which provides information on the financial performance
and management of the scheme over the year.
The following two pages provide a shorter and less technical version
of the Report and Accounts for the year ended 31 March 2008.
Income and expenditure
The table below shows the income and expenditure for the year ended 31 March 2008.
Income
Final Salary Retirement
pension scheme
Plan
£’000 £’000
Company contributions 94,838 10,789
Normal member contributions 990 5,374
Members’ Additional Voluntary Contributions 3,140 1,192
Ex-gratia contributions ** 1,661 –
Transfers in – 461
Investment income 162,483 36
Change in market value of investments (207,852) (2,172)
Total income 55,260 15,680
Expenditure
Benefits payable 198,845 366
Leavers 5,223 581
Administration expenses 14,616 443
(includes investment expenses)
Total expenditure 218,684 1,390
4
** Ex-gratia contributions are paid into the scheme by the Company to cover any exceptional benefits
(for example, redundancy).