Experian 2013 Annual Report Download - page 92
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Please find page 92 of the 2013 Experian annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Executive directors’ pension arrangements
Don Robert is provided with benefits through a Supplementary Executive Retirement Plan (‘SERP’) which is a defined benefit
arrangement in the US. The figures below are in respect of his SERP entitlement.
Brian Cassin participated in the UK defined contribution arrangement during the year and the employer contributions to this
arrangement were £29,375.
Chris Callero participated in the US defined contribution arrangement (401k Plan) during the year and the employer
contributions to this arrangement were US$10,249 (2012: US$7,104).
The pension entitlements in respect of benefits from non-registered defined benefit arrangements are detailed in the
table below.
Accrued
pension at
31 March
2013
per annum
(1)
US$’000
Accrued
pension at
31 March
2012
per annum
(2)
US$’000
Transfer
value at
31 March
2013
(3)
US$’000
Transfer
value at
31 March
2012
(4)
US$’000
Change in
transfer
value (less
director’s
contributions)
(5)
US$’000
Additional
pension earned
to 31 March 2013
(net of inflation)
per annum
(6)
US$’000
Transfer value
of the increase
(less director’s
contributions)
(7)
US$’000
Don Robert 611 543 14,389 11,749 2,640 54 1,276
Four former directors of Experian Finance plc (formerly GUS plc), received unfunded pensions during the year. Three
of the former directors are paid under the SURBS. The total unfunded pensions paid to the former directors was £470,560
(2012: £473,153).
Notes:
Columns (1) and (2) represent the deferred pension to which Don Robert would have been entitled had he left the Group at 31 March 2013 and 2012 respectively.
Column (3) is the transfer value of the pension in column (1) calculated as at 31 March 2013 based on factors determined by the US government in accordance with
the US pension-to-lump-sum actuarial basis.
Column (4) is the equivalent transfer value, but calculated as at 31 March 2012 on the assumption that Don Robert left service at that date.
Column (5) is the change in transfer value of accrued pension during the year net of contributions by Don Robert.
Column (6) is the increase in pension built up during the year, recognising (i) the accrual rate for the additional service based on the pensionable salary in force at
the year end, and (ii) where appropriate the effect of pay changes in “real” (inflation adjusted) terms on the pension already earned at the start of the year.
Column (7) represents the transfer value of the pension in column (6).
The disclosures in columns (1) to (5) are equivalent to those required by the large and medium-sized Companies and Groups (Accounts and Reports) Regulations
2008 and those in columns (6) and (7) are those required by the UK Financial Services Authority Listing Rules.
Report on directors’ remuneration
continued
90 Experian Annual Report 2013 Governance