Page 106 - Pobl Annual Report FY25

104 Annual Report 2025
Notes to the Financial Statements
for the year ended 31 March 2025
Movements in the balance of the defined benefit obligations were as follows:
Pobl Pension Scheme Swansea Pension
Fund
Dyfed Pension Fund
Group Company Group Group
2025 2024 2025 2024 2025 2024 2025 2024
£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
At 1 April (100,356) (102,314) (43,930) (44,511) (25,051) (25,214) - (1,594)
Current service cost (980) (935) (617) (600) (303) (344) - -
Expenses
- - - - - - - -
Interest cost (4,888) (4,902) (2,144) (2,139) (1,184) (1,168) - -
Contributions by plan
participants (50) (76) (13) (18) (82) (88) - -
Actuarial gain due to changes
in financial assumptions 14,630 422 6,404 422 4,189 865 - -
Actuarial gain due to changes
in demographic assumptions (508) 359 (222) 359 188 378 - -
Actuarial gain/(loss) due to
liability experience (1,653) 3,353 (633) 2,194 (37) (323) - -
Net benefits paid out 2,647 3,737 1,159 1,543 887 843 - -
Transfer
- - - - - - - 1,972
Orphan SHPS liability
- - - (1,180) - - - -
Settlement loss
- - - - - - - (378)
At 31 March (91,158) (100,356) (39,996) (43,930) (21,393) (25,051) - -
Movements in the balance of fair value of plan assets were as follows:
Pobl Pension Scheme Swansea Pension
Fund
Dyfed Pension
Fund
Group Company Group Group
2025 2024 2025 2024 2025 2024 2025 2024
£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
At 1 April 79,799 84,173 34,931 36,474 35,293 31,616 - 2,126
Interest income 3,999 4,083 1,756 1,779 1,676 1,469 - -
Expenses (315) (126) (138) (53) - - - -
Experience on plan
assets * - loss (8,808) (11,225) (3,998) (5,841) (1,228) 2,943 - -
Contributions by the
employer 6,250 6,555 2,962 3,197 19 20 - (154)
Contributions by plan
participants 50 76 13 18 82 88 - -
Net benefits paid out (2,647) (3,737) (1,159) (1,543) (887) (843) - -
Orphan SHPS liability - - - 900 - - - -
Transfer
- - - - - - - (1,972)
At 31 March 78,328 79,799 34,367 34,931 34,955 35,293 - -
* Excludes amounts included in net interest cost