Ryanair 2006 Annual Report Download - page 62

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21 PENSIONS (Continued)
Changes in the present value of the defined benefit obligation of the plans are as follows:
2006 2005
000 000
Projected benefit obligation at beginning of year 29,213 16,955
Opening present benefit obligations on UK scheme -4,930
Service cost 1,812 1,417
Interest cost 1,460 1,207
Plan participants’ contributions 681 707
Actuarial loss 978 4,378
Benefits paid (672) (354)
Foreign exchange rate changes (105) (27)
Projected benefit obligation at end of year 33,367 29,213
Changes in the fair values of the plans’ assets are as follows:
2006 2005
000 000
Fair value of the plan assets at begnning of year 18,585 12,033
Opening fair value of UK scheme assets -2,911
Actual gain on plan assets 4,8672,029
Employer contribution 1,305 1,279
Plan participants’ contributions 681 707
Benefits paid (672) (354)
Foreign exchange rate changes (76) (20)
Fair value of plan assets at end of year 24,690 18,585
(Continued)
Notes
62
ANNUAL REPORT & FINANCIAL STATEMENTS 2006