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102 Financial Statements
Notes to the Financial Statements
Continued
Movements in the present value of the defined benefit obligation are as follows:
Atkins Railways
Pension Pension
Plan Scheme Other Total
2008 £m £m £m £m
Defined benefit obligation at beginning of year 867.3 185.3 5.6 1,058.2
Service cost 12.2 4.0 0.5 16.7
Interest cost 46.1 10.2 0.2 56.5
Change of assumptions (92.7) (2.6) 0.8 (94.5)
Employee contributions 3.9 1.8 0.2 5.9
Benefit payments (16.7) (4.0) (0.9) (21.6)
Difference on exchange – – 0.7 0.7
Defined benefit obligation at end of year 820.1 194.7 7.1 1,021.9
Atkins Railways
Pension Pension
Plan Scheme Other Total
2007 £m £m £m £m
Defined benefit obligation at beginning of year 843.6 173.8 4.5 1,021.9
Service cost 18.1 4.1 0.3 22.5
Interest cost 42.5 9.0 0.2 51.7
Change of assumptions (28.3) (0.2) 0.6 (27.9)
Employee contributions 6.9 1.8 0.1 8.8
Benefit payments (15.5) (3.2) – (18.7)
Difference on exchange – – (0.1) (0.1)
Defined benefit obligation at end of year 867.3 185.3 5.6 1,058.2
Movements in the fair value of plan assets are as follows:
Atkins Railways
Pension Pension
Plan Scheme Other Total
2008 £m £m £m £m
Fair value of plan assets at beginning of year 632.3 170.8 5.0 808.1
Expected return on plan assets 42.6 12.4 0.4 55.4
Employer contributions 44.8 3.0 0.7 48.5
Employee contributions 3.9 1.8 0.2 5.9
Benefits paid (16.7) (4.0) (0.9) (21.6)
Actuarial loss (68.4) (18.3) (1.4) (88.1)
Difference on exchange – – 0.6 0.6
Fair value of plan assets at end of year 638.5 165.7 4.6 808.8
Atkins Railways
Pension Pension
Plan Scheme Other Total
2007 £m £m £m £m
Fair value of plan assets at beginning of year 566.2 151.8 4.0 722.0
Expected return on plan assets 38.2 10.8 0.3 49.3
Employer contributions 39.6 3.2 0.6 43.4
Employee contributions 6.9 1.8 0.1 8.8
Benefits paid (15.5) (3.2) – (18.7)
Actuarial (loss)/gain (3.1) 6.4 0.1 3.4
Difference on exchange – – (0.1) (0.1)
Fair value of plan assets at end of year 632.3 170.8 5.0 808.1
WS Atkins plc Annual Report 2008