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Charges made to the consolidated income statement and consolidated statement of comprehensive income (‘SOCI’) on the basis of the
assumptions stated above are:
2013 20122011
£m £m £m
Current service cost 28 1112
Interest cost 139 8595
Expected return on pension assets (146) (99) (103)
Curtailment/settlement (1) 1 –
Total included within staff costs 20 (2) 4
Actuarial losses/(gains) recognised in the SOCI 259 365(190)
Cumulative actuarial losses recognised in the SOCI 930 671306
Fair value of the assets and present value of the liabilities of the schemes
The amount included in the statement of nancial position arising from the Group’s obligations in respect of its dened benet schemes is as follows:
2013 20122011
£m £m £m
Movement in pension assets:
1 April 1,604 1,558 1,487
Exchange rate movements 6 (22) (2)
Expected return on pension assets 146 99103
Actuarial gains/(losses) 189 (30) (6)
Employer cash contributions 103 3424
Member cash contributions 8 6 5
Benets paid (63) (42) (51)
Other movements11,730 1 (2)
31 March 3,723 1,604 1,558
Movement in pension liabilities:
1 April 1,910 1,548 1,690
Exchange rate movements 9 (33) (4)
Current service cost 28 1112
Interest cost 139 85 95
Member cash contributions 8 6 5
Actuarial losses/(gains) 448 335(196)
Benets paid (63) (42) (51)
Other movements11,821 – (3)
31 March 4,300 1,9101,548
Note:
1 Other movements mainly comprise the addition of the CWWRP as a result of the acquisition of CWW (see note 11).
An analysis of net (decit)/assets is provided below for the Group’s two largest dened benet pension scheme in the UK and for the Group
as a whole.
CWWRP Vodafone UK plan Group
2013 2013201220112010 2009 2013 2012201120102009
£m £m £m £m £m £m £m £m £m £m £m
Analysis of net
(decit)/assets:
Total fair value of scheme assets 1,827 1,328 1,2181,180 1,131 755 3,723 1,604 1,558 1,487 1,100
Present value of funded
schemeliabilities (1,874) (1,647) (1,444) (1,127) (1,276) (815) (4,238) (1,852) (1,488) (1,625) (1,196)
Net (deficit)/assets for
funded schemes (47) (319) (226) 53(145) (60) (515) (248) 70(138) (96)
Present value of unfunded
scheme liabilities – – – – – (8) (62) (58) (60) (65) (136)
Net (decit)/assets (47) (319) (226) 53(145) (68) (577) (306) 10 (203) (232)
Net (decit)/assets are
analysed as:
Assets – – – 53– – 52 3197348
Liabilities (47) (319) (226) – (145) (68) (629) (337) (87) (237) (240)
It is expected that contributions of £62 million will be paid into the Group’s dened benet retirement schemes during the year ending 31 March 2014.
The assets of the schemes are held in external trustee administered funds.
143 Vodafone Group Plc
Annual Report 2013
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