Marks and Spencer 2006 Annual Report Download - page 67

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65Marks and Spencer Group plc
10 EMPLOYEES continued
B Average number of employees
2006 2005
UK stores
Management and supervisory categories 4,601 4,863
Other 57,687 56,269
UK head office
Management and supervisory categories 2,325 2,537
Other 732 968
Overseas 2,959 2,110
Discontinued operations 2,006 3,803
70,310 70,550
If the number of hours worked was converted on the basis of a normal working week, the equivalent average number of full-time
employees for continuing operations would have been 46,989 (last year 45,297) and for discontinued operations 1,592
(last year 3,005).
C Directors’ emoluments
Emoluments of directors of the Company are summarised below. Further details are given in the Remuneration report on
pages 40 to 48.
2006 2005
£000 £000
Aggregate emoluments 4,249 6,016
Termination payments 622 3,651
11 RETIREMENT BENEFITS
The Group provides pension arrangements for the benefit of its UK employees through the Marks & Spencer UK Pension Scheme.
This has a defined benefit section, which was closed to new entrants with effect from 1 April 2002, and a defined contribution
section which has been open to new members with effect from 1 April 2003.
The defined benefit section operates on a Final Salary basis and at the year end had some 31,000 active members (last year
35,000), 57,000 deferred members (last year 56,000) and 38,000 pensioners (last year 36,000). At the year end, the defined
contribution section had some 5,000 active members (last year 4,000).
The Group also operates small defined benefit pension schemes in the Republic of Ireland and at Kings Super Markets in the USA.
Retirement benefits also include a UK post-retirement healthcare scheme and unfunded pension plans.
Within the total Group retirement benefit cost of £80.7m (last year £84.8m), £69.1m (last year £74.0m) relates to the UK defined
benefit section, £5.6m (last year £4.6m) to the UK defined contribution section and £6.0m (last year £6.2m) to other retirement
benefit schemes.
The Group’s accounting policy for recognising actuarial gains and losses is to recognise these immediately through the statement
of recognised income and expense.
A Pensions and other post-retirement liabilities
2006 2005
£m £m
Total market value of assets 4,606.2 3,956.8
Present value of scheme liabilities (5,381.3) (4,611.0)
Pension scheme deficit (775.1) (654.2)
Unfunded pension plans (1.7) (2.5)
Post-retirement healthcare (18.1) (19.3)
Retirement benefit obligations (794.9) (676.0)