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Summary of methods and assumptions used in the Scheme's valuation, as at 31 March 1999.

Funding Method:

Projected Unit method

Main financial assumptions

% per annum

Return on assets

6.50

General pay increases

4.25

Pensions increases

2.50

Increases in the Lower Earnings Limit

2.50

Increases in equity dividends

3.00


The next formal valuation is due as at 31 March 2005.

 

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