Savills plc 2012 Annual Report - (PDF) - Investor relations

Change in plan assets:Group2012£m2011£mCompany2012£mFair value of plan assets at start of year 129.0 119.5 7.1 6.6Expected return on plan assets 8.8 8.7 0.5 0.4Actuarial gain/(loss) 9.2 (4.2) 0.5 (0.2)Employer contributions 7.0 6.0 0.4 0.3Benefits paid (2.3) (1.0) (0.1) –Fair value of plan assets at end of year 151.7 129.0 8.4 7.12011£mOur business Our governance Our resultsThe actual return on plan assets was £18.0m (2011: £4.5m). The overall expected return on assets is determined as the weightedaverage of the expected returns on each separate asset class shown below. The expected return on plan assets is determined by theexpected rate of return over the remaining life of the related liabilities held by the scheme. The expected rate of return on equities isbased on market expectations of dividend yields and price earnings ratios. Expected returns on bonds are based on gross redemptionyields as at the reporting date.The amounts recognised in the consolidated statement of comprehensive income:Group2012£mActuarial losses brought forward (47.4) (27.1)Net actuarial loss for the year (0.1) (20.3)Accumulated net actuarial losses (47.5) (47.4)The major categories of assets as a percentage of total plan assets are as follows:2012 2011Equities 41% 48%Bonds 31% 31%Property – 2%Diversified Growth Funds 28% 18%Cash – 1%Total 100% 100%No plan assets are the Group’s own financial instruments or property occupied or used by the Group.Amounts for the current and previous four years are as follows:Plan assets 151.7 129.0 119.5 103.5 85.9Defined benefit obligation (179.6) (164.6) (141.8) (141.2) (110.5)Deficit (27.9) (35.6) (22.3) (37.7) (24.6)Experience gain/(loss) on plan liabilities 1% (1%) 2% 2% 1%Experience gain/(loss) on plan assets 6% (3%) 3% 8% (35%)The Group expects to contribute £9.0m to its pension plan in the period to 31 December 2013 (2012: £7.0m). The Company expects tocontribute £0.5m (2012: £0.4m).2012£m2011£m2010£m2009£m2011£m2008£mSavills plc Report and Accounts 2012 83