2016_Halma_ARA_160610_2

Notes to the Accounts continued
28 RETIREMENT BENEFITS continued
Movements in the fair value of the UK and Swiss plan assets were as follows:
The net movement on actuarial gains and losses of the UK and Swiss plans was as follows:
53 weeks to
2 April
2016
£000
52 weeks to
28 March
2015
£000
At beginning of year 224,806 190,509
Expected return on plan assets 7,214 8,385
Actuarial (losses)/gains (10,128) 22,035
Plan assets of business acquired (note 24) – 1,022
Contributions from the sponsoring companies 8,041 8,060
Contributions from plan members 439 804
Benefits paid (8,646) (6,116)
Premiums paid – (28)
Foreign exchange 137 135
At end of year 221,863 224,806
53 weeks to
2 April
2016
£000
52 weeks to
28 March
2015
£000
Defined benefit obligations 18,969 (56,830)
Fair value of plan assets (10,128) 22,035
Net actuarial gains/(losses) 8,841 (34,795)
STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS
The analysis of the UK plan assets and the expected rate of return at the balance sheet date were as follows:
2 April
2016
%
The overall expected rate of return is a weighted average.
Expected rate of return
28 March
2015
%
29 March
2014
%
2 April
2016
£000
Fair value of assets
28 March
2015
£000
In conjunction with the trustees, the Group conducts asset-liability reviews for its defined benefit pension plan. The results of
these reviews are used to assist the trustees and the Group to determine the optimal long-term asset allocation with regard to the
structure of the liabilities of the plan. They are also used to assist the trustees in managing the volatility in the underlying investment
performance and risk of a significant increase in the defined benefit deficit by providing information used to determine the plan’s
investment strategy.
As a consequence, the Group is progressively giving more emphasis to a closer return matching of plan assets and liabilities,
both to ensure the long-term security of its defined benefit commitment and to reduce earnings and balance sheet volatility.
29 March
2014
£000
Equity instruments 3.40 3.25 4.40 111,112 114,314 101,155
Debt instruments 3.40 3.25 4.40 90,829 89,743 71,451
Property 3.40 3.25 4.40 16,469 16,274 14,905
3.40 3.25 4.40 218,410 220,331 187,511
Halma plc Annual Report and Accounts 2016 157 155