Equities 70.5% 69.8% Government Bonds 12.1% 14.6% Other Bonds 11.2% 14.4% Property 4.5% 0% Other 1.7% 1.2% TOTAL 100% 100% The Expected Rate of Return on these assets is as follows (gross of expenses): Start of Year End of Year Equities 7.5% 7.5% Government 4.5% 4.4% Other Bonds 5.2% 5.1% Cash / Liquidity 0.5% 0.5% Expenses Reduction 0.32% 0.32% Post Retirement mortality assumptions Start of Year End of Year Non-retired PA92mc YoB Males - 99% S1PMA CMI_2009_M (1%) members retiring in Tables + 1year Females - 93% S1PFA CMI_2009_F (1%) the normal health PA92mc YoB Males 99% S1PMA CMI_2009_M (1%) Current – Tables + 1year Pensions(retired in Females 93% S1PFA CMI_2009_F (1%) – normal health Life Expectancy Start of Year End of Year Of males (female) future 22.2 (25.0) 23.3 (26.1) years pensioner aged 65 in 20 years time years Of males (female) current 21.2 (24.1) 21.9 (24.5) years pensioner aged 65 History of experience gains and losses The actual gains identified as movement on the Pension Reserve in 2010/11 can be analysed into the following categories, measured as percentages of Assets or liabilities as at 31 March 2010 2010/11 2009/10 2008/09 2007/08 2006/07 2005/06 2004/5 % % % % % Differences between the (3.9%) (22.2) (31.5) (10.1) (0.3) 12.7 3.8 expected and actual returns on assets Experience gains and 8.8% 24.6 27.4 5.1 0.0 (3.2) 0.1 losses on liabilities Commutation of pension for lump sum at retirement Start of Year End of Year
Equities 70.5% 69.8% Government Bonds 12.1% 14.6% Other Bonds 11.2% 14.4% Property 4.5% 0% Other 1.7% 1.2% TOTAL 100% 100% The Expected Rate of Return on these assets is as follows (gross of expenses): Start of Year End of Year Equities 7.5% 7.5% Government 4.5% 4.4% Other Bonds 5.2% 5.1% Cash / Liquidity 0.5% 0.5% Expenses Reduction 0.32% 0.32% Post Retirement mortality assumptions Start of Year End of Year Non-retired members retiring in the normal health PA92mc YoB Tables + 1year Males - 99% S1PMA CMI_2009_M (1%) Females - 93% S1PFA CMI_2009_F (1%) Current Pensions(retired in normal health PA92mc YoB Tables + 1year Males – 99% S1PMA CMI_2009_M (1%) Females – 93% S1PFA CMI_2009_F (1%) Life Expectancy Start of Year End of Year Of males (female) future pensioner aged 65 in 20 years time 22.2 (25.0) years 23.3 (26.1) years Of males (female) current pensioner aged 65 21.2 (24.1) 21.9 (24.5) years History of experience gains and losses The actual gains identified as movement on the Pension Reserve in 2010/11 can be analysed into the following categories, measured as percentages of Assets or liabilities as at 31 March 2010 2010/11 % 2009/10 % 2008/09 % 2007/08 % 2006/07 % 2005/06 2004/5 Differences between the expected and actual returns on assets (3.9%) (22.2) (31.5) (10.1) (0.3) 12.7 3.8 Experience gains and losses on liabilities 8.8% 24.6 27.4 5.1 0.0 (3.2) 0.1 Commutation of pension for lump sum at retirement Start of Year End of Year
IFRS%20Statements%20final%207%209%2011.docx