Ms Fiona Ross:

There is great certainty for 6,500 members of the regular wages scheme because they voted in favour of the proposal midway through last year. They have good certainty and we will put a funding proposal to the Pensions Authority that would regularise the regular wages scheme. That scheme covers 6,500 members, the majority of our front-line workers.

Overall, the big swings are related to discount rates and market movements. While equity markets are up significantly this year, as they were in recent years, our assets are allocated across a range of different categories. There is debt and equities and other investments across the substantive assets on the pension balance sheet or on the balance sheet as it related to the assets and pensions. There are vast swings in that deficit number. As the Chairman pointed out, the deficit has deteriorated significantly in recent years. That is why it has become a major factor for the board to address. We have seen the issues associated with-----