Holiday Inn 2008 Annual Report Download - page 50

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Directors’ pension benefits
Increase in
transfer value
over the Absolute
Directors’ Transfer value year, less increase Increase Accrued
contributions of accrued benefits Directors’ in accrued in accrued pension at
Age at in the year11 Jan 2008 31 Dec 2008 contributions pension2pension331 Dec 20084
Directors 31 Dec 2008 £ £ ££ £ pa £ pa £ pa
Andrew Cosslett 53 36,600 1,184,200 2,028,600 807,800 31,700 28,600 102,600
Richard Solomons 47 23,400 2,371,600 3,430,800 1,035,800 28,600 21,300 197,300
1 Contributions paid in the year by the Directors under the terms of the plans.
Contributions were 5% of full pensionable salary.
2 The absolute increase in accrued pension during the year.
3 The increase in accrued pension during the year, excluding any increase for
inflation.
4 Accrued pension is that which would be paid annually on retirement at 60,
based on service to 31 December 2008.
The figures shown in the above table relate to the final salary plans only. For defined contribution plans, the contributions made by and
in respect of Stevan Porter during 2008 were:
Director’s contribution to Company contribution to
DCP 401(k) DCP 401(k)
££ ££
Stevan Porter 78,000 6,200 Stevan Porter 62,700 5,000
By order of the Board
Ralph Kugler
Chairman of the Remuneration Committee
16 February 2009
48 IHG Annual Report and Financial Statements 2008
Remuneration report continued