Note 35 Defined Benefit Pension Schemes (continued) 2016/17 Pension Schemes PCC only (LGPS) 2017/18 £’000 £’000 Transactions relating to Post Employment Benefits Comprehensive Income and Expenditure Statement Cost of Services The Group recognises the cost of post employment 216 267 Current service cost benefits in the reported cost of services when they are earned by employees rather than when the benefits are - Past service cost - eventually paid as pensions. However, the charge - - Curtailments required against council tax is based on the cash payable Financing and Investment Income and Expenditure in the year, so the real cost of post employment / 74 59 Net interest expense retirement benefits is reversed out of the General Fund 290 Total post employment benefit charged to the Surplus or Deficit on the Provision of Services 326 via the Group Movement in Reserves Statement. The following transactions have been made in the PCC and Other post employment benefit charged to the Comprehensive Income and Expenditure Statement Group Comprehensive Income and Expenditure Remeasurement of the net defined benefit liability comprising: Statement and the General Fund Balance via the PCC and 392 (38) Return on plan assets (excluding the amount included in the net interest expense) Group Movement in Reserves Statement during the year: (51) Actuarial gains and losses arising on changes in demographic assumptions - 1,332 (190) Actuarial gains and losses arising on changes in financial assumptions (1,583) Experience gains and losses - PCC only 380 Total post employment benefit charged to the Comprehensive Income and Expenditure Account 98 Movement in Reserves Statement Reversal of net charges to Surplus or Deficit for the Provision of Services for post employment (290) (326) benefits in accordance with the Code Actual amount charged against the General Fund Balance for pensions in the year 135 contribution payable 151 Employer’s - - Retirement benefits payable to pensioners - Additional contribution to Police Pension Fund Account to balance deficit -
Note 35 Defined Benefit Pension Schemes (continued) Transactions relating to Post Employment Benefits The Group recognises the cost of post employment benefits in the reported cost of services when they are earned by employees rather than when the benefits are eventually paid as pensions. However, the charge required against council tax is based on the cash payable in the year, so the real cost of post employment / retirement benefits is reversed out of the General Fund via the Group Movement in Reserves Statement. The following transactions have been made in the PCC and Group Comprehensive Income and Expenditure Statement and the General Fund Balance via the PCC and Group Movement in Reserves Statement during the year: PCC only 2016/17 £’000 Pension Schemes PCC only (LGPS) 2017/18 £’000 Comprehensive Income and Expenditure Statement Cost of Services 216 Current service cost 267 - Past service cost - - Curtailments - Financing and Investment Income and Expenditure 74 Net interest expense 59 290 Total post employment benefit charged to the Surplus or Deficit on the Provision of Services 326 Other post employment benefit charged to the Comprehensive Income and Expenditure Statement Remeasurement of the net defined benefit liability comprising: 392 Return on plan assets (excluding the amount included in the net interest expense) (38) (51) Actuarial gains and losses arising on changes in demographic assumptions - 1,332 Actuarial gains and losses arising on changes in financial assumptions (190) (1,583) Experience gains and losses - 380 Total post employment benefit charged to the Comprehensive Income and Expenditure Account 98 Movement in Reserves Statement (290) Reversal of net charges to Surplus or Deficit for the Provision of Services for post employment benefits in accordance with the Code (326) Actual amount charged against the General Fund Balance for pensions in the year 135 Employer’s contribution payable 151 - Retirement benefits payable to pensioners - - Additional contribution to Police Pension Fund Account to balance deficit -
syp-group-annual-accounts-2017-18-draft-new-format.docx