The financial statements of Marks and Spencer plc (M&S) are available at the book’s companion website or can be accessed at http://annualreport.marksandspencer.com/_assets/downloads/ Marks-and-Spencer-Annual-report-and-financial-statements-2012.pdf.

Instructions
Refer to M&S’s financial statements and the accompanying notes to answer the following questions.
  (a) What kind of pension plan does M&S provide its employees?
  (b) What was M&S’s pension expense for 2012 and 2011?
  (c) What is the impact of M&S’s pension plans for 2012 on its financial statements?
  (d) What information does M&S provide on the target allocation of its pension assets? How do the allocations relate to the expected returns on these assets?