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Directors' remuneration report
(h) Company pension
Pension benefits for the UK based executive directorsβ
| Robert Anderson Chief Executive UK division |
Walker Boyd Group Finance Director |
|||
| 2007/08 | 2006/07 | 2007/08 | 2006/07 | |
| £ | £ | £ | £ | |
| Change in accrued benefits during the year (gross of inflation) | 548 | – | 5,812 | 4,983 |
| Change in accrued benefits during the year (net of inflation) | (115) | – | 3,727 | 3,237 |
| Accrued benefits at the end of the year | 17,548 | 17,005 | 59,286 | 53,474 |
| Transfer value of change in accrued pension (net of inflation) | n/a | n/a | 56,227 | 41,892 |
| Transfer value of accrued benefits at the beginning of the year | 189,799 | 201,054 | 698,295 | 662,639 |
| Transfer value of accrued benefits at the end of the year | 237,833 | 189,799 | 894,794 | 698,295 |
| Change in transfer value of accrued benefits(1) | 48,034 | (11,255) | 196,499 | 35,656 |
| Group payments to the FURBS/supplement | 44,300 | 38,380 | 94,900 | 55,880 |
| Life assurance contributions | 686 | 521 | 1,418 | 539 |
(1)Calculated in accordance with the Actuarial Guidance Note GN 11.