John Lewis Partnership plc annual report and accounts 2013






24 Retirement benefit obligations (continued)


 


Amounts recognised in the income statement - Year ended 26 January 2013 £m - Year eanded 28 January 2012 £m



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Current service cost 129.0 117.4


Contribution expense* 6.4 4.9


Administrative expenses 2.6 1.7


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Operating expenses 138.0 124.0


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Interest cost on liabilities 154.8 160.2


Expected return on assets (193.0) (190.5)


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Finance income (38.2) (30.3)


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Total pension charge 99.8 93.7


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* Includes Partnership contributions to the defined contribution scheme and contributions to a separate plan managed by a third party, together with pension supplements in respect of certain Partners in lieu of future pension accrual.





 


Amounts recognised in equity - Year ended 26 January 2013 £m - Year eanded 28 January 2012 £m 



Actuarial (gains)/losses on assets (108.3) 145.1


Actuarial losses on defined benefit obligation 434.6 109.7


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Total losses recognised in equity 326.3 254.8


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Cumulative loss recognised in equity 811.9 485.6


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Reconciliation of net defined benefit liability - 2013 £m - 2012 £m



Net defined benefit liability at beginning of year (638.1) (414.0)


Pension expense (90.8) (87.1)


Contributions 233.1 117.8


Total losses recognised in equity (326.3) (254.8)


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Net defined benefit liability at end of year (822.1) (638.1)





 


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