Defined benefit schemes

The net pension expense before taxation recognised in the income statement in respect of the defined benefit schemes is summarised as follows:

Continuing operations2015
£m
2014
£m
Current service cost(18.1)(17.2)
Curtailments/settlements(5.5)(1.7)
Administrative expenses(2.6)(2.2)
Pension expense charged to operating profit(26.2)(21.1)
Net pension interest (expense)/income (charged)/credited to finance expense/investment income (see notes 4 and 5)(7.0)1.3
Net pension expense charged before taxation(33.2)(19.8)

Defined benefit pension costs excluding curtailments/settlements included within employee benefit expense were £20.7 million (2014: £19.4 million) comprising current service costs and administrative expenses. Total post-employment benefits expense excluding curtailments/settlements charged to operating profit of £29.5 million (2014: £27.5 million) comprise the defined benefit costs described above of £20.7 million (2014: £19.4 million) and defined contribution pension costs of £8.8 million (2014: £8.1 million) (see note 2).

The reconciliation of the opening and closing net pension surplus/(obligations) included in the statement of financial position is as follows:

Group2015
£m
2014
£m
At the start of the year(177.4)15.1
Expense recognised in the income statement(33.2)(19.8)
Contributions paid39.328.1
Remeasurement gains/(losses) gross of taxation250.5(200.8)
At the end of the year79.2(177.4)

Included in the contributions paid of £39.3 million (2014: £28.1 million) were pre-paid accelerated deficit repair contributions of £9.7 million (2014: £nil) and an inflation funding mechanism payment of £5.5 million (2014: £9.9 million).

Remeasurement gains and losses are recognised directly in the statement of comprehensive income.

2015
£m
2014
£m
The return/(loss) on plan assets, excluding amounts included in interest705.2(125.1)
Actuarial losses arising from changes in financial assumptions(500.8)(108.3)
Actuarial gains arising from changes in demographic assumptions(1)10.234.4
Actuarial gains/(losses) arising from experience35.9(1.8)
Remeasurement gains/(losses) on defined benefit pension schemes250.5(200.8)

Note:

  1. Following investigations carried out as part of the last triennial scheme funding valuation performed in March 2013.

For more information in relation to the group's defined benefit pension schemes see note A4.

Defined contribution schemes

During the year, the group made £8.8 million (2014: £8.1 million) of contributions (see note 2) to defined contribution schemes relating to continuing operations, which are included in arriving at operating profit.

Company

The company did not participate in any of the group's pension schemes during the years ended 31 March 2015 and 31 March 2014.