TRUSTEES' REPORT AND ACCOUNTS 2022 77
Notes to the accounts continued
Year ended 31 December 2022
25. Pensions (continued)
Period to
31 Dec 2022
£'000
Period to
31 Dec 2021
£'000
Remeasurements over the period
Loss/(gain) on assets in excess of interest 124,400 (25,067)
Experience losses/(gains) on liabilities 19,718 5,502
Losses/(gains) from changes to demographic assumptions (4,180) 4,281
Losses/(gains) from changes to financial assumptions (138,251) (10,856)
Total remeasurements 1,687 (26,140)
Change in value of the assets
Fair value of assets at start 331,105 307,100
Interest on assets 6,558 4,262
Company contributions 2,171 2,004
Contributions by Scheme participants - -
Benefits paid (8,593) (7,328)
Administration costs - -
Change due to settlements and curtailments - -
Return on assets less interest (124,400) 25,067
Fair value of assets at end 206,841 331,105
Actual return on assets (117,842)
Change in value of the DB liabilities
Value of liabilities at start 342,209 345,819
Current service cost - -
Contributions by Scheme participants - -
Past service costs - -
Interest on liabilities 6,759 4,791
Benefits paid (8,593) (7,328)
Change due to settlements and curtailments - -
Experience (gain)/loss on liabilities 19,718 5,502
Changes to demographic assumptions (4,180) 4,281
Changes to financial assumptions (138,251) (10,856)
Value of liabilities at end 217,662 342,209