BL-2023-000713 - Bundle for Disposal Hearing

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