HSBC 2012 Annual Report Download - page 418

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
7 – Employee compensation and benefits
416
Benefits expected to be paid from plans
2013 2014 2015 2016 2017 2018-2022
US$m US$m US$m US$m US$m US$m
HSBC Bank (UK) Pension Scheme .. 745 776 810 849 899 5,411
Other plans ......................................... 556 541 557 577 624 3,595
Total (income)/expense recognised in the income statement in ‘Employee compensation and benefits’
HSBC Bank (UK) Pension Scheme Other plans
2012 2011 2010 2012 2011 2010
US$m US$m US$m US$m US$m US$m
Current service cost ........................... 236 251 252 310 299 300
Interest cost ........................................ 1,178 1,233 1,148 404 456 438
Expected return on plan assets .......... (1,245) (1,325) (1,092) (486) (481) (437)
Past service cost ................................. – (587) – 51 45 12
Gains on curtailments ........................ – – – (11) (59) (151)
Gains on settlements .......................... – – – (10) (4) (2)
Total (income)/expense ..................... 169 (428) 308 258 256 160
Summary
HSBC Bank (UK) Pension Scheme
2012 2011 2010 2009 2008
US$m US$m US$m US$m US$m
Present value of defined benefit obligation .................. (26,475) (24,367) (22,858) (21,523) (15,257)
Fair value of plan assets ............................................... 29,092 26,604 22,236 17,701 14,865
Net surplus/(deficit) ...................................................... 2,617 2,237 (622) (3,822) (392)
Experience gains/(losses) on plan liabilities ................ 880 (383) (327) (234) (49)
Experience gains/(losses) on plan assets ...................... 680 3,426 1,772 871 (2,861)
Gains/(losses) from changes in actuarial
assumptions .............................................................. (1,352) (1,098) (1,124) (4,329) 3,081
Total net actuarial gains/(losses) .................................. 208 1,945 321 (3,692) 171
Other plans
2012 2011 2010 2009 2008
US$m US$m US$m US$m US$m
Present value of defined benefit obligation .................. (11,600) (10,680) (9,785) (9,109) (8,787)
Fair value of plan assets ............................................... 9,015 8,232 7,559 6,822 6,024
Net deficit ..................................................................... (2,585) (2,448) (2,226) (2,287) (2,763)
Experience gains/(losses) on plan liabilities ................ 56 (78) (73) 20 (52)
Experience gains/(losses) on plan assets ...................... 410 200 394 65 (1,452)
Gains/(losses) from changes in actuarial
assumptions .............................................................. (906) (764) (596) 94 (306)
Total net actuarial gains/(losses) .................................. (440) (642) (275) 179 (1,810)