Accounting for Pensions Survey 2002
Appendix 1  -  Detailed SSAP24 disclosure listing

This table shows the disclosures made by the companies surveyed and the corresponding score as explained in Section 5.

Where sufficient information was given to show the actuarial value used for assets, for example, if an unsmoothed market value is used, this is counted as being the same as disclosing the dividend growth rate on the traditional discounted income model.

Where the assumptions appear to represent a market value method but have not been stated as such the company has been awarded 3 out of 5 points for the asset valuation, shown as YES* in the Asset valuation column below.

Company Asset valuation Pension increases Spreading method Split of cost Total
3i YES* YES YES YES 18
Abbey National YES* YES YES YES 18
Alliance & Leicester  YES YES YES YES 20
Allied Domecq YES YES NO NO 16
Amersham YES YES YES YES 20
Anglo American YES* YES NO NO 14
Associated British Foods YES YES NO NO 16
AstraZeneca YES YES YES NO 18
BAA YES YES YES YES 20
BAE Systems YES YES YES NO 18
Barclays YES YES YES YES 20
BAT YES YES YES NO 18
BG YES YES NO YES 18
BOC YES YES YES YES 20
Boots YES YES NO NO 16
BP Amoco YES YES YES YES 20
British Airways YES YES NO NO 16
British Land Company NO YES NO NO 11
BT YES YES YES NO 18
Cable & Wireless YES YES YES YES 20
Cadbury Schweppes YES YES YES NO 18
Capita Group NO YES YES NO 13
Celltech YES YES YES YES 20
Centrica YES YES YES YES 20
CGNU YES YES NO NO 16
Compass NO YES NO NO 11
Daily Mail YES YES YES NO 18
Diageo YES YES YES NO 18
Dixons YES YES YES YES 20
Electrocomponents YES YES NO NO 16
EMI YES YES NO NO 16
Enterprise Oil YES YES NO YES 18
Friends Provident YES YES YES NO 18
Gallaher Group YES YES YES YES 20
GlaxoSmithKline YES YES YES YES 20
Granada Media YES YES NO NO 16
GUS YES YES NO NO 16
Hanson YES YES YES NO 18
Hays YES YES YES YES 20
HBOS YES* YES YES YES 18
Hilton YES YES YES YES 20
HSBC YES YES NO NO 16
ICI YES* NO YES YES 17
Imperial Tobacco YES YES NO NO 16
Innogy Holdings YES YES NO NO 16
International Power NO YES NO NO 11
Invensys YES YES YES YES 20
Kingfisher YES YES NO NO 16
Land Securities YES NO NO NO 15
Legal & General YES YES YES YES 20
Lloyds TSB YES YES YES NO 18
Man Group NO YES NO NO 11
Marks & Spencer YES YES NO YES 18
Morrison (Wm) Supermarkets YES NO NO NO 15
National Grid YES YES NO YES 18
Next YES YES YES YES 20
Northern Rock YES YES NO NO 16
P&O Princess Cruises YES YES NO NO 16
Pearson YES YES NO YES 18
Prudential YES YES YES YES 20
Reckitt Benckiser YES YES YES YES 20
Reed International YES* YES YES YES 18
Rentokil Initial YES YES NO NO 16
Rio Tinto YES YES YES NO 18
Rolls Royce YES YES YES NO 18
Royal & Sun Alliance YES YES YES YES 20
Royal Bank of Scotland YES YES NO YES 18
Safeway YES YES YES YES 20
Sainsbury YES YES NO YES 18
Schroders YES YES YES YES 20
Scottish & Newcastle YES NO NO NO 15
Scottish & Southern Energy YES YES NO NO 16
Scottish Power YES YES YES YES 20
Severn Trent YES YES YES NO 18
Six Continents YES* YES NO YES 16
Smith & Nephew NO YES YES NO 13
Smiths Industries YES YES NO NO 16
Standard Chartered YES YES YES YES 20
Tesco YES YES NO NO 16
Unilever YES YES YES YES 20
United Utilities YES YES NO NO 16
Vodafone YES NO NO NO 15
Wolseley YES YES YES YES 20

The 83 companies listed above were analysed in depth. Those not analysed were: Amvescap, ARM Holdings, BSkyB, Canary Wharf Group, Logica, Reuters, Sage and Shire Pharmaceuticals (no evidence of significant defined benefit provision); Shell (do not report under UK generally accepted accounting principles), Billiton, Brambles Industries Ltd, Old Mutual and South African Breweries (wholly overseas); WPP (fully adopted FRS17 in 2001); Lattice, mm02 and Powergen (no annual report produced in 2001).