Barclays 2008 Annual Report Download - page 237

3
Financial statements
30Retirement 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
2008 2007 2006
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 299 2 301 332 2 334 378 21 399
Interest cost 991 8 999 905 8 913 900 8 908
Expected return on scheme assets (1,175) – (1,175) (1,074) – (1,074) (999) – (999)
Recognised actuarial (gain)/loss (23) (1) (24) (1) – (1) 314
Past service cost 2 (8) (6) 20 – 20 29 – 29
Curtailment or settlements (5) – (5) (32) – (32) (29) – (29)
Total included in staff costs 89 1 90 150 10 160 282 30 312
Staff costs are included in other operating expenses.
Change in benefit obligation
2008 2007
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 (16,563) (913) (60) (98) (17,634) (17,256) (894) (97) (76) (18,323)
Current service cost (276) (23) – (2) (301) (317) (15) (1) (1) (334)
Interest cost (946) (45) (3) (5) (999) (869) (36) (4) (4) (913)
Past service cost (2) (11) 7 – (6) (20) –––(20)
Curtailments or settlements 7 2 – – 9 35 1––36
Actuarial gain/(loss) 2,807 – 11 (5) 2,813 1,292 25 19 1 1,337
Contributions by plan participants (20) (3) – – (23) (19) (2) ––(21)
Benefits paid 598 42 2 9 651 589 31 2 15 637
Business combinations ––––––––––
Exchange and other adjustments – (269) – (24) (293) 2 (23) 21 (33) (33)
Benefit obligation at end of the year (14,395) (1,220) (43) (125) (15,783) (16,563) (913) (60) (98) (17,634)
The benefit obligation arises from plans that are wholly unfunded and wholly or partly funded as follows:
2008 2007
£m £m
Unfunded obligations (297) (248)
Wholly or partly funded obligations (15,486) (17,386)
Total (15,783) (17,634)
Barclays PLC Annual Report 2008 235