Vodafone 2002 Annual Report Download - page 139

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Notes to the Consolidated Financial Statements Vodafone Group Plc 137Annual Report & Accounts and Form 20-F
German defined benefit pension plan
The net periodic pension cost, benefit obligations, plan assets and funded status under US GAAP, translated at the year-end exchange rate of 11.6323 : £1,
at 31 March 2002 comprised the following:
2002 2001
£m £m
Service cost 22
Interest cost 77
Actual loss/(return) on plans’ assets 1–
Net periodic pension cost 10 9
Change in benefit obligation
Benefit obligation at 1 April 114 126
Service cost 22
Interest cost 77
Amendments 4(12)
Benefits paid (estimated) (8) (9)
Benefit obligation at 31 March 119 114
Change in plans’ assets
Fair value of assets at 1 April 22
Actual (loss)/return on plans’ assets (1) –
Employer’s contributions 8–
Members’ contributions ––
Benefits paid (estimated) (8) –
Fair value of assets at 31 March 12
Funded status
Projected benefit obligation (119) (114)
Fair value of plan assets 12
Unrecognised net loss 31 26
Accrued pension cost (87) (86)
Weighted-average actuarial assumptions
Discount rate 6.0% 6.5%
Rate of compensation increase 2.5% 2.5%
Expected long-term return on plan assets 6.0% 6.5%