b'CHP financial statements 2020/2021Notes to the financial statements Assumptions Projected pension expense for the year to 31 March 2022The main financial assumptions used by the actuary.2021 Percent per annum 2020/2021 2020/2021 2019/2020 000 Rate of increase in salaries3.85%2.85% Service cost 4,102 Rate of increase in pensions in payment 2.85%1.85% Net interest on the defined benefit liability 398 Discount rate2.00%2.35% Administration expenses 40 Inflation assumption00 Total loss 4,540 CPI2.85%1.85% Employer contributions 1,677 RPI3.20%2.60%Life expectancy from age 65 years - retiring today / in 20 years Male 21.6 / 22.9 21.8 / 23.2 Re-measurements of the net assets / (defined liability) included in other comprehensive incomeFemale 23.4 / 24.723.7 / 25.22020/2021 2019/2020000000Return on fund assets in excess of interest 12,799(3,745)Other actuarial gains / (losses) on assets -422Change in financial assumptions (20,827)7,741Change in demographic assumptions 1,091678Experience gain / (loss) on defined benefit obligation 741(2,790)Remeasurement of net assets / (defined liability)(6,196)2,30690 91'