Page 79 - RFU Annual Report 2018

7
FINANCIAL STATEMENTS

7

27. Defined benefit pension scheme continued
2018 2017
Defined benefit costs recognised in the profit and loss account £m £m

Current service cost 0.4 0.7
Net interest cost 0.1 0.1

Defined benefit costs recognised in profit and loss account 0.5 0.8

2018 2017
Defined benefit costs recognised in other comprehensive income £m £m

Return on plan assets (excluding amounts included in net interest cost) - gain 0.8 1.0
Experience gains and losses arising on the plan liabilities - gain 1.8 0.1
Effects of changes in the demographic and financial assumptions underlying
the present value of the plan liabilities - gain on total 2.9 1.3

Total amount recognised in other comprehensive income 5.5 2.4

2018 2017
Assets £m £m

UK equities 0.6 2.7
Overseas equities 11.2 8.1
Corporate bonds 7.0 2.6
Government bonds - 5.3
Insured assets 16.9 16.7
Property 1.3 1.6
Cash 2.1 1.8
Other 1.4 1.2

Total assets 40.5 40.0

None of the fair values of the assets shown above include any direct investments in the Group’s own financial
instruments or any property occupied by, or other assets used by, the Group.

2018 2017
% per % per
Assumptions annum annum

Discount Rate 2.7 2.7
Inflation (RPI) 3.2 3.3
Inflation (CPI) 2.2 2.3
Salary Growth 1.5 2.8
Allowance for revaluation of deferred pensions (RPI or 5% p.a. if less) 3.2 3.3
Allowance for pension in payment increases (RPI or 5% p.a. if less) 3.1 3.1
Allowance for pension in payment increases (CPI or 3% p.a. if less) 2.0 2.0
Allowance for commutation of pension for cash at retirement 90% of 65% of
Post A Day Post A Day

Annual
Report
2018