Page 49 - 2019-20 Annual Report and Financial Statements

DIOCESE OF CHICHESTER ACADEMY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
20
Pension and similar obligations Total contributions made
Employer's contributions Employees'contributions
Total contributions
Principal actuarial assumptions
Rate of increase in salaries
Rate of increase for pensions in payment/inflation Discount rate for scheme liabilities
(Continued)
2020 2019 ££
861,000 740,000 192,000 172,000
1,053,000 912,000
2020 2019 %%
2.7 2.9 2.2 2.3 1.7 1.9
The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are:
Retiring today -Males
- Females
Retiring in 20 years - Males
-Females
Scheme liabilities would have been affected by changes in assumptions as follows:
2020 2019 Years Years
22.3 21.6 24.5 23.6
23.5 22.7 26.1 25.3
2020 2019
Discount rate-0.5%
Salary increase rate+0.5% Pension increase rate+0.5%
The academy trust's share of the assets in the scheme
Equities 8,759,600 Bonds 2,302,470 Property 957,390
Cash and other liquid assets Total market value of assets
350,540 12,370,000
3,992,860 1,546,690 557,020 210,430
6,307,000
-46-
2,415,000 216,000 2,158,000
2020 Fair value
1,223,000 111,000 1,104,000
2019 Fair value ££