2006 Annual Report - University of Salford

Annual Report &
Financial Statements
Notes to the Accounts
38(c) Teachers’ Pension Scheme (TPS) (Continued)
Movements in Deficit During Year 2005-06 2004-05
£’000 £’000
(Deficit) in Scheme at Beginning of Year (7,766) (6,223)
Contributions in respect of Unfunded Benefits 459 458
Impact of Settlements and Curtailments (144) (901)
Interest and Pension Liabilities (427) (301)
Actuarial Gain/(Loss) - (799)
(Deficit) in Scheme at End of Year (7,878) (7,766)
History of Experience Gains or Losses
2005-06 2004-05 2003-04 2002-03 2001-02
Total Amounts Recognised
in Statement of Gains and
Losses Amounts - £’000’s - (799) (70) (72) (1,035)
% of Scheme Liabilities - (10.29%) (1.12%) (1.16%) (18.23%)
38(d)
Pension Scheme Summary
The implementation of FRS 17 ‘Retirement Benefits’ resulted in the pension scheme deficits and actuarial
(losses)/gains being included in the Financial Statements as follows:-
2005-06 2004-05
£’000 £’000
Balance Sheet – Pension Scheme Deficits
Greater Manchester Pension Fund – Note 38(b) (18,410) (17,649)
Teachers Pension Scheme Early Retirement – Note 38(c ) (7,878) (7,766)
(26,288) (25,415)
2005-06 2004-05
£’000 £’000
Statement of Total Recognised Gains & Losses
Actuarial Gains/(Losses)
Greater Manchester Pension Fund – Note 38(b) 47 (1,388)
Teachers Pension Scheme Early Retirement – Note 38(c) - (799)
47 (2,187)
64