(b) Scheme assets and net defined benefit pension liability:


Investment assets Insured pensions


Fair value of plan assets Value of funded obligations


Net defined benefit pension liability


Proportion 78% 22%


At 31st March 2020 £’000


9,015 2,583


11,598


(11,902) (304)


Proportion 77% 23%


At 31st March 2019 £’000


8,801 2,668


11,469


(11,643) (174)


(c) Analysis of the change in the fair value of plan assets:


2020 £’000


Opening fair value of plan assets Interest income Asset gains Contributions Benefits paid


Closing fair value of plan assets Expected contributions to the scheme in the year to 31st March 2021 are £41,000.


11,469 271 215 117


(474) 11,598


2019 £’000


11,301 290 189 192


(503) 11,469


(d) Analysis of the change in the defined benefit obligation:


2020 £’000


Opening defined benefit obligation Current service cost Interest cost


Actuarial losses/(gains) Benefits paid


Closing defined benefit obligation


11,643 42


274 417


(474) 11,902


2019 £’000


11,824 41


301 (20) (503) 11,643


(e) Amounts charged to Statement of Comprehensive Income:


2020 £’000


Current service cost - charged to staff pension costs Net interest expense - charged to finance expense Total Charged to Statement of Comprehensive Income


42 3


45


2019 £’000


41 11 52


25 ANNUAL REPORT AND ACCOUNTS 2020


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