- Financial Statements
Notes to the Company Financial Statements
for the year to 31 December 2007
9. Retirement benefit obligations
The company participates in the George Wimpey Staff Pension Scheme. This is a Defined Benefit Muliti-employer Plan, the assets and liabilities of which are held independently from the Group. The company is unable to identify its share of the underlying assets and liabilities of the scheme and accordingly accounts for the plan as if it was a defined contribution plan.
Information in respect of the scheme is provided in note 23 of the Taylor Wimpey plc consolidated financial statements. The fair value of assets as disclosed in those financial statements has been calculated in accordance with International Accounting Standard 19 Employee benefits, in accordance with Financial Reporting Standard No. 17 Retirement benefits (FRS 17) the total fair value of scheme assets would be £686.4m (2006: £749.7m). All other information provided in those financial statements meets the disclosure requirements set out in FRS 17.
Contributions in respect of the Defined Contribution Scheme for Directors can be found in the Remuneration Report. There were no outstanding contributions at the year end.