Nathan plc has a defined benefit pension scheme, which is no longer accruing benefits for its members. On 1 January 2020, the pension scheme had assets measured at fair value at 100 million, and the present value of the pension schemes obligations was 150 million. During 2020, Nathan contributed 10 million to the pension scheme, and the scheme paid benefits of 15 million. The interest rate on high quality corporate bonds was 4%. At 31 December 2020, the fair value of the pension scheme assets was 116 million and the present value of the pension schemes obligations was 135 million. What is the net amount of remeasurement gains and losses in respect of the defined benefit pension scheme for 2020?

Select one:

a.

Net remeasurement loss of 11 million

b.

Net remeasurement gain of 23 million

c.

Net remeasurement gain of 11 million

d.

Net remeasurement loss of 23 million