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Retirement benefits | 12 Months Ended
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Mar. 31, 2020
Retirement benefits |
Retirement benefits | 24.Retirement benefits Defined contribution schemes At March 31, 2020 the Company operates defined-contribution retirement plans in Ireland and the U.K. The costs of these plans are charged to the consolidated income statement in the period in which they are incurred. The pension cost of these defined contribution plans was €13m in fiscal year 2020 (2019: €9m; 2018: €6m). Defined-benefit schemes During fiscal year 2016 the Company closed the defined benefit plan for U.K. employees to future accruals. The net pension liability recognized in the consolidated balance sheet for the scheme at March 31, 2020 was €4m (2019: €4m; 2018: €4m). Costs associated with the scheme during fiscal year 2020 was €nil (2019: €nil; 2018: €nil). The amounts recognized in the consolidated balance sheet in respect of defined benefit plans are as follows:
|  | At March 31,
|  | 2020 |  | 2019 |  | 2018
|  | €M |  | €M |  | €M
Present value of benefit obligations |  | (14.9) |  | (15.0) |  | (15.0)
Fair value of plan assets |  | 10.4 |  | 10.3 |  | 10.3
Present value of net obligations |  | (4.5) |  | (4.7) |  | (4.7)
Related deferred tax asset |  | 0.6 |  | 0.6 |  | 0.6
Net pension liability |  | (3.9) |  | (4.1) |  | (4.1)

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- Definition The disclosure of defined benefit plans. [Refer: Defined benefit plans [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2019-01-01 -Paragraph 138 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2019-en-r&anchor=para_138&doctype=Standard -URIDate 2019-03-27 + Details
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