Barclays 2009 Annual Report Download - page 243

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30 Retirement benefit obligations continued
The UKRF plan assets include £58m relating to UK private equity investments (2008: £27m) and £921m relating to overseas private equity investments
(2008: £735m). These are disclosed within Equities.
Amounts included in the fair value of plan assets include £4m (2008: £5m) relating to shares in Barclays Group, £5m (2008: £11m) relating to bonds issued
by the Barclays Group, £nil (2008: £nil) relating to other investments in the Barclays Group, and £10m (2008: £17m) relating to property occupied by Group
companies.
The expected return on assets is determined by calculating a total return estimate based on weighted average estimated returns for each asset class.
Asset class returns are estimated using current and projected economic and market factors such as inflation, credit spreads and equity risk premiums.
The Group actual return on plan assets was an increase of £2,351m (2008: £3,480m decrease).
Actuarial gains and losses
The actuarial gains and losses arising on plan liabilities and plan assets are as follows:
2009 2008 2007 2006 2005
£m £m £m £m £m
UK schemes
Present value of obligations (19,274) (14,438) (16,623) (17,353) (18,252)
Fair value of plan assets 15,675 13,537 17,231 16,761 15,571
Net (deficit)/surplus in the plans (3,599) (901) 608 (592) (2,681)
Experience gains and (losses) on plan liabilities
– amount 107 (81) (297) 48 (2)
– as percentage of plan liabilities 1% (1%) (2%) – –
Difference between actual and expected return on plan assets
– amount 1,424 (4,534) (332) 423 1,599
– as percentage of plan assets 9% (33%) (2%) 3% 10%
Overseas schemes
Present value of obligations (1,372) (1,345) (1,011) (970) (1,017)
Fair value of plan assets 1,025 959 796 745 819
Net deficit in the plans (347) (386) (215) (225) (198)
Experience losses on plan liabilities
– amount (45) (96) (79) (54) (2)
– as percentage of plan liabilities (3%) (7%) (8%) (6%) –
Difference between actual and expected return on plan assets
– amount (8) (121) (11) 25 2
– as percentage of plan assets (1%) (13%) – 3% –
Total UK and Overseas schemes
Present value of obligations (20,646) (15,783) (17,634) (18,323) (19,269)
Fair value of plan assets 16,700 14,496 18,027 17,506 16,390
Net (deficit)/surplus in the plans (3,946) (1,287) 393 (817) (2,879)
Experience gains and (losses) on plan liabilities
– amount 62 (177) (376) (6) (4)
– as percentage of plan liabilities 0% (1%) (2%) – –
Difference between actual and expected return on plan assets
– amount 1,416 (4,655) (343) 448 1,601
– as percentage of plan assets 8% (32%) (2%) 3% 10%