Jockey Club Racecourses Limited Notes to the financial statements Year ended 31 December 2021
18. Pension schemes (continued)
Principal actuarial assumptions used at the reporting date: Description
2020 1.30% pa 2.90% pa 2.40% pa 4.60% pa 2.40% pa 0.00% pa
2021 1.95% pa 3.30% pa 2.90% pa 5.10% pa 2.90% pa 0.00% pa
Discount rate RPI inflation CPI inflation Revaluation of deferred pensions: GMP (S148) Non GMP CAE pension
Pension increases: Pre 88 GMP Post 88 GMP Pre 05 pension Post 05 pension
0.00% pa 2.10% pa 2.90% pa 2.20% pa
0.00% pa 2.30% pa 3.20% pa 2.20% pa
S2PMA/S2PFA
S3PMA/S3PFA
CMI 2019 model with a long term rate ofimprovement of 1.25% pa and a +1 year age rating
CMI 2020 model with a long term rate of improvement of 1.25% pa and a +1 year age rating
Mortality (before and after retirement)
75% of members are
75% of members are
assumed to take the maximum tax-free cash available 85% for males 75% for females
assumed to take the maximum tax-free cash available 85% for males 75% for females
Allowance for cash commutation
Proportion married
Defined contribution pension scheme The amount recognised in the income statement as an expense in relation to the company's defined contribution scheme is £1.4m (2020: £1.4m). There was £0.1m (2020: £0.2m) owing at the year end.
679 131 670
Made with FlippingBook interactive PDF creator