10 Information on Staff

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The average numbers of staff employed by the Group during the year were:	1998	1997
UK operations	19,090	18,369
Jackson National Life	1,439	1,293
Prudential Asia	1,328	1,155
Discontinued operations	977	1,303
Group total	22,834	22,120
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The costs of employment were:	1998 £m	1997 £m
Wages and salaries	576	488
Social security costs	44	39
Other pension costs (see below)	41	33
Group total	661	560

The Group operates a number of pension schemes around the world. The largest scheme is the Group’s main United Kingdom scheme which covers approximately 74% of members of all Group pension schemes. This scheme is of the defined benefit type with scheme assets held in separate trustee administered funds and was last valued as at 5 April 1996 by a qualified actuary who was an employee of the Group.

The projected accrued benefits method was used and the principal actuarial assumptions adopted were investment return 8.5% per annum, pensionable earnings growth 7% per annum, increases to pensions in payment 4.5% per annum and dividend growth 4.5% per annum.

The market value of scheme assets at that date was £3,275m and the actuarial value of the assets was sufficient to cover 116% of the benefits that had accrued to members, allowing for expected future increases in earnings. As a result of the actuarial valuation, the employer’s contribution rate became the minimum prescribed under the scheme rules, currently equivalent to 10.25% of pensionable earnings. £4m (£5m) of the pension costs related to overseas schemes.