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10.6 Pensions

10.6.1 Directors’ pension arrangements

Cynthia Carroll and René Médori participated in defined contribution pension arrangements in terms of their contracts with AAS. In 2008, normal contributions were payable on their behalf at the rate of 30% of their basic salaries payable under these contracts.

10.6.2 Defined contribution pension schemes

The amounts payable into defined contribution pension schemes by the Group in respect of the individual directors were as shown in Figure 15.

10.6.3 Defined benefit pension schemes

No director was eligible in 2008 for membership of any defined benefit pension scheme.

10.6.4 Excess retirement benefits

No person who served as a director of the Company during or before 2008 has been paid or received retirement benefits in excess of the retirement benefits to which he/she was entitled on the date on which benefits first became payable (or 31 March 1997, whichever is later).

Figure 15: Defined contribution pension schemes
  Normal contributions
Directors 2008
Cynthia Carroll(1) 315 270
René Médori(2) 198 183
The contributions payable into pension arrangements for Cynthia Carroll amounted in 2008 to £225,000 (2007: £203,000), the balance being payable in the form of a cash allowance to an equivalent-cost to the employer. This allowance is included in the pension figure above. It does not form part of basic salary disclosed in directors’ emoluments table nor is it included in determining awards under the BSP.
René Médori contractually agreed with his employer that supplementary pension contributions should be made into his defined contribution pension arrangements in return for a reduction in the cash element awarded under the BSP for performance in 2007. These supplementary contributions of £15,000 (2007: £68,000) are included in his ‘2007 Annual performance bonus – cash element’ amount of £407,000 disclosed in directors’ emoluments table.