BT 2005 Annual Report Download - page 65

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The table below shows the increase in the accrued benefits, including those referred to above, to which each director
has become entitled during the year and the transfer value of the increase in accrued benefits:
Accrued pension
Transfer value of accrued
benefits
Change in
transfer value
c-d less
directors’
contributions
Additional
accrued
benefits
earned in the
year
Transfer value
of increase in
accrued
benefits less
directors’
contributions
2005 2004 2005 2004 2005 2005 2005
£000
a
£000
b
£000
c
£000
d
£000 £000
e
£000
f
P Danon
h
66 52 696 519 163 12 113
A Green 131 117 1,848 1,553 268 10 115
H Lalani
i
73 57 668 494 158 14 109
P Reynolds 123 116 1,578 1,405 149 3 12
a-d
As required by the Companies Act 1985 Schedule 7A.
a-b
These amounts represent the deferred pension to which the directors would have been entitled had they left the company on 31 March 2004 and 2005,
respectively.
c
Transfer value of the deferred pension in column (a) as at 31 March 2005 calculated on the basis of actuarial advice in accordance with Actuarial
Guidance Note GN11. The transfer value represents a liability of the company rather than any remuneration due to the individual and cannot be
meaningfully aggregated with annual remuneration, as it is not money the individual is entitled to receive.
d
The equivalent transfer value but calculated as at 31 March 2004 on the assumption that the director left service at that date.
e
The increase in pension built up during the year, net of inflation.
f
The transfer value of the pension in column (e), less directors’ contributions.
g
Directors’ contributions in the financial year 2004/05 were as follows: Pierre Danon, £14,025 (2004 – £14,580); Andy Green, £26,625
(2004 – £25,500); Hanif Lalani £16,300 (2004 – £13,350) and Paul Reynolds, £24,000 (2004 – £24,000).
h
Pierre Danon resigned as a director on 28 February 2005.
i
Hanif Lalani joined the Board on 7 February 2005.
64 BT Group plc Annual Report and Form 20-F 2005 Report on directors’ remuneration