Page 47

Notes to the financial statements 24

for the year ended 31 March 2012

Pension commitments (Continued) 2012

2011

%

%

Discount rate

4.7

5.5

Rate of inflation

3.0

3.5

Rate of increase in salaries

2.0

2.0

Rate of increases in pension in payment

0.0

0.0

31 March

31 March

2012

2011

£'000

£'000

- Men

22.3

22.2

- Women

25.1

25.1

- Men

23.2

23.2

- Women

26.0

26.0

The mortality assumptions used were as follows:

Pensioner age 65:

Current member age 45:

The assets in the Keepmoat Group Pension Plan and the expected rates of return were: Long-term

Long-term

expected rate

expected rate

of return

Value

of return

Value

31 March 2012 31 March 2012 31 March 2011 31 March 2011 %

£'000

%

£'000

Equities

7.0

4,706

7.0

5,174

Bonds

4.0

804

4.5

723

358

3.5

Cash Total market value of assets Present value of scheme liabilities Pension scheme surplus Related deferred tax liability Net pension asset

Keepmoat Annual Report and Financial Statements 2012

3.0

113

5,868

6,010

(4,840)

(4,679)

1,028

1,331

(247)

(346)

781

985

45

Keepmoat plc Annual report and accounts 2012  
Keepmoat plc Annual report and accounts 2012  
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