5,109 4,977 Fair value of plan assets at beginning of year 160 151 Expected return on plan assets (358) 236 Actuarial gains / (losses) (248) (295) Benefits paid - (16) Administration expenses 574 - Employer contribution - (5,181) Settlements 5,109 Fair value of plan assets at end of year - - 5,109 Fair value of plan assets at 31 March (4,047) - Benefit obligation at 31 1,062 Funded status - A payment of £370,000 was made to the scheme in 2010/11 to address the deficit as at 31 March 2010. As there was a surplus on the scheme no payments of employer contributions were made in subsequent years. The £574k employer contribution is the balance required in addition to the NES share of the assets to fund the settlement. 18. Pension Costs (continued) Reconciliation of change in funded status: Plan assets: Year to 31st Year to 31st March 2014 March 2015 £’000 £’000 396 Actual return on plan assets (207) Weighted average life expectancy for mortality tables used to determine benefit obligations at: 31st 2014 Male Female Member age 60 (current life expectancy) 27.5 30.1 Member age 40 (life expectancy at age 60) 29.6 32.1 Five year history: Financial year ending in:- 2015 2014 2013 2012 2011 £'000 £'000 £'000 £'000 £'000
4,977 Fair value of plan assets at beginning of year 5,109 160 Expected return on plan assets 151 236 Actuarial gains / (losses) (358) (248) Benefits paid (295) (16) Administration expenses - - Employer contribution 574 - Settlements (5,181) 5,109 Fair value of plan assets at end of year - 5,109 Fair value of plan assets at 31 March - (4,047) Benefit obligation at 31 - 1,062 Funded status - A payment of £370,000 was made to the scheme in 2010/11 to address the deficit as at 31 March 2010. As there was a surplus on the scheme no payments of employer contributions were made in subsequent years. The £574k employer contribution is the balance required in addition to the NES share of the assets to fund the settlement. 18. Pension Costs (continued) Reconciliation of change in funded status: Plan assets: Year to 31st March 2014 £’000 Year to 31st March 2015 £’000 396 Actual return on plan assets (207) Weighted average life expectancy for mortality tables used to determine benefit obligations at: 31st 2014 Male Female Member age 60 (current life expectancy) 27.5 30.1 Member age 40 (life expectancy at age 60) 29.6 32.1 Five year history: Financial year ending in:- 2015 2014 2013 2012 2011 £'000 £'000 £'000 £'000 £'000