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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:
2014
Restated
2013
Restated
2012
£m £m £m
Movement in pension assets:
1 April 3,723 1,604 1,558
Exchange rate movements (13) 6(22)
Interest income 162 125 86
Return on plan assets excluding interest income (114) 210 (17)
Employer cash contributions 51 100 31
Member cash contributions 786
Benets paid (81) (60) (39)
Assets assumed in business combinations –1,730 –
Other movements 107 – 1
31 March 3,842 3,723 1,604
Movement in pension liabilities:
1 April 4,251 1,865 1,501
Exchange rate movements (17) 9(30)
Service cost 14 27 12
Interest cost 182 137 83
Member cash contributions 786
Remeasurements:
Actuarial losses/(gains) arising from changes in demographic assumptions (35) – –
Actuarial losses/(gains) arising from changes in nancial assumptions (44) 441 314
Actuarial losses/(gains) arising from experience adjustments (92) 721
Benets paid (81) (60) (39)
Liabilities assumed in business combinations 121 1,772 2
Other movements 85 45 (5)
31 March 4,391 4,251 1,865
An analysis of net (decit)/assets is provided below for the Group’s two largest dened benet pension schemes in the UK and for the Group
as a whole.
CWWRP Vodafone UK plan Group
20142013 20142013201220112010 2014
Restated
2013
Restated
2012
Restated
2011
Restated
2010
£m £m £m £m £m £m £m £m £m £m £m £m
Analysis of net
(decit)/assets:
Total fair value of scheme
assets 1,780 1,827 1,343 1,328 1,2181,180 1,131 3,842 3,723 1,604 1,558 1,487
Present value of funded
schemeliabilities (1,732) (1,874) (1,677) (1,647) (1,444) (1,127) (1,276) (4,325) (4,239) (1,853) (1,488) (1,625)
Net (deficit)/assets for
funded schemes 48 (47) (334) (319) (226) 53 (145) (483) (516) (249) 70 (138)
Present value of unfunded
scheme liabilities – – – – – – – (66) (12) (12) (13) (15)
Net (decit)/assets 48 (47) (334) (319) (226) 53 (145) (549) (528) (261) 57 (153)
Net (decit)/assets are
analysed as:
Assets 48 – – – – 53– 35 52 319734
Liabilities –(47) (334) (319) (226) – (145) (584) (580) (292) (40) (187)
Vodafone Group Plc
Annual Report 2014 155Overview
Strategy
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