Barclays 2006 Annual Report Download - page 208

Notes to the accounts
For the year ended 31st December 2006
Barclays PLC
Annual Report 2006
204
35 Retirement benefit obligations (continued)
The following tables present an analysis of defined benefit obligation and fair value of plan assets for all the Group’s pension schemes and
post-retirement benefits (the latter are unfunded) and present the amounts recognised in the income statement including those related to
post-retirement health care.
Income statement charge
2006 2005 2004
Other post- Other post- Other post-
retirement retirement retirement
Pensions benefits Total Pensions benefits Total Pensions benefits Total
£m £m £m £m £m £m £m £m £m
Staff cost charge
Current service cost 378 21 399 348 22 370 330 20 350
Interest cost 900 8 908 853 4 857 772 6 778
Expected return on scheme assets (999) – (999) (898) – (898) (834) – (834)
Recognised actuarial loss 3144–4–33
Past service cost 29 – 29 131141–1
Curtailment or settlements (29) – (29) (49) – (49) (34) – (34)
Total included in staff costs 282 30 312 271 27 298 235 29 264
Staff costs are included in other operating expenses.
Change in benefit obligation
2006 2005
Post-retirement Post-retirement
Pensions benefits Total Pensions benefits Total
UK Overseas UK Overseas UK Overseas UK Overseas
£m £m £m £m £m £m £m £m £m £m
Benefit obligation at
beginning of the year (18,149) (938) (103) (79) (19,269) (15,494) (522) (80) (65) (16,161)
Current service cost (358) (20) (20) (1) (399) (332) (16) (18) (4) (370)
Interest cost (863) (37) (4) (4) (908) (822) (31) (3) (1) (857)
Past service cost (4) (25) – – (29) (12) (1) – (1) (14)
Curtailments or settlements 43 2 – – 45 58 3 – – 61
Actuarial gain/(loss) 1,566 15 11 (3) 1,589 (2,024) (28) (18) (4) (2,074)
Contributions by plan participants (15) (2) – – (17) (13) (2) – – (15)
Benefits paid 536 40 19 4 599 490 24 16 5 535
Business combinations –11––11– (335) – – (335)
Exchange and other adjustments (12) 60 – 7 55 – (30) – (9) (39)
Benefit obligation at
end of the year (17,256) (894) (97) (76) (18,323) (18,149) (938) (103) (79) (19,269)
The benefit obligation arises from plans that are wholly unfunded and wholly or partly funded as follows:
2006 2005
£m £m
Unfunded obligations (237) (224)
Wholly or partly funded obligations (18,086) (19,045)
Total (18,323) (19,269)