Jersey Post Annual Report and Accounts | 2012 - States Assembly

Jersey Post Annual Report and Accounts | 2012
15. Pension Costs – Defined Benefit (continued)
Changes to the fair value of scheme assets during the year
Restated
Year ending Year ending
31 December 2012 31 December 2011
(£K)
(£K)
Opening fair value of scheme assets 23,892 32,453
Expected return on scheme assets 1,394 1,901
Actuarial gains / (losses) on scheme assets 988 (3,787)
Contributions by the employer 751 1,157
Contributions by scheme participants 340 404
Net benefits paid out (124) (92)
Net increase in assets from disposals / acquisitions - -
Settlements (4,690) (8,144)
Closing fair value of scheme assets 22,551 23,892
Actual return on scheme assets
Restated
Year ending Year ending
31 December 2012 31 December 2011
(£K)
(£K)
Expected return on scheme assets 1,394 1,901
Actuarial gain / (loss) on scheme assets
_______
988
_______
(3,787)
Actual return on scheme assets
_______
2,382
_______
(1,886)
Analysis of profit and loss charge
Restated
Year ending Year ending
31 December 2012 31 December 2011
(£K)
(£K)
Current service cost 1,333 1,240
Past service cost 545 -
Interest cost 1,233 1,267
Expected return on scheme assets (1,394) (1,901)
Curtailment cost - -
Settlement cost
_______
(100)
_______
(1,097)
Expense recognised in profit and loss
_______
1,617
_______
(491)
46