Newsletter February 2002
Newsletter February 2002
Newsletter February 2002
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Financial position of the Plan<br />
Income<br />
£000’s<br />
Contributions Employers 5,865<br />
Members 6,211<br />
Transfers-in 244,461<br />
Investment income 17,906<br />
Other income 2,725<br />
Expenditure<br />
£000’s<br />
Benefits payable 30,748<br />
Payment to leavers 92,822<br />
Life Assurance Premiums 106<br />
Administration expenses 1,721<br />
Investment management expenses 4,879<br />
Total Income<br />
£277,168,000<br />
Total Expenditure<br />
£130,276,000<br />
Net Assets of the Plan at 6 April 2000 £930,735,000<br />
Change in market value of investments £(56,568)<br />
Difference between income and expenditure £146,892,000<br />
Net Assets of the Plan at 5 April 2001 £1,021,059,000<br />
Top five largest UK equity<br />
holdings<br />
Company<br />
Market Value<br />
£000’s<br />
GlaxoSmithKline 12,172<br />
Vodafone Group 9,468<br />
BP Amoco 9,155<br />
British Telecommunications 9,050<br />
Royal Bank of Scotland 7,116<br />
Actuarial<br />
valuation<br />
Since April 2001 world stock<br />
markets have been very volatile<br />
and overall they have fallen in<br />
value. The Trustee and Rexam<br />
regularly monitor the estimated<br />
funding position of the Plan,<br />
which remains strong. Monitoring<br />
will continue throughout <strong>2002</strong>.<br />
The next actuarial valuation is due<br />
to take place at 6 April 2003.<br />
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