35 Unallocated divisible surplus


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2008
£m

2007
£m

1.

2007 includes £321m release of 1996 Sub-fund.

As at 1 January

1,721

2,178

Transferred to the income statement1

(806)

(438)

Actuarial gains/(losses) on defined benefit pension schemes transferred from the [SORIE]

8

(16)

Foreign exchange adjustments

(10)

(3)

As at 31 December

913

1,721

It is intended that the with-profits part of the [LTF] will be managed on the basis that it will remain open to new business and therefore there is no expectation of any distribution from the inherited estate.

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