Page 244 - CJ 2019 INTEGRATED REPORT

242
NOTES TO THE FINANCIAL
26 POST - EMPLOYMENT BENEFITS (CONTINUED)
Plan assets are comprised as as follows:
2019 Equities -Overseas
Equities -Local
Fixed interest securities- Overseas
Fixed interest securities- Local
Cash and others
2018
Equities -Overseas
Equities -Local
Fixed interest securities- Overseas
Fixed interest securities- Local
Cash and others
Quoted Rs’000
26 591 98 385 18
614 18
614 - 162 204
Quoted Rs’000
29 676 130 573 20 773 20773 - 201 795
GROUP
Unquoted Rs’000
- 10 636 - 61 159 31 909 103 704
GROUP
Unquoted Rs’000
- 11870 - 56 384 26 708 94 962
Total Rs’0000
26 591 109 021 18
614 79 773 31 909 265 908
Total Rs’000
29 676 143 443 20 773 77 157 26 708 296 757
Quoted Rs’000
10 023 37 086 7
016 7
016 - 61 141
Quoted Rs’000
9 004 39 616 6 303 6 303 - 61 226
COMPANY
Unquoted Rs’000
- 4 009 - 23 053 12 029 39 091
COMPANY
Unquoted Rs’000
- 3602 - 17 107 8
103 28 812
Total Rs’000
10 023 41
095 7
016 30 069 12 029 100 232
Total Rs’000
9 004 43
218 6 303 23 410 8
103 90 038
STATEMENTS 31 DECEMBER 2019 (CONTINUED)
The The Group Group and and Company Company operate a a a a a a a a a a a a a a a a final salary defined defined benefit benefit pension pension plan plan plan for its employees The The plan plan plan exposes the Group Group and and and Company Company to normal risks risks associated with defined defined benefit benefit pension pension plans such as as investment interest longevity and and salary risks Investment risk: The plan plan plan plan liability is is is is is is calculated using a a a a a a a a a a a a a a a a discount rate rate determined by reference to government bond yields if if the return on on plan plan plan plan assets is is is is is is below this rate rate it it it it it will will create create a a a a a a a a a a a a a a a a plan plan plan plan deficit and if if it it it it it is is is is is is higher it it it it it will will create create a a a a a a a a a a a a a a a a plan plan plan plan surplus Interest risk: A decrease decrease in in in in in in in in the the the the bond interest rate will increase increase the the the the plan plan liability however this may be partially offset by an an an an an increase increase increase in in in in in in in in in the the the the return on on on on on the the the the plan’s debt investments and and a a a a a a a a a a a a a a a a a a a a decrease decrease in in in in in in in in in inflationary pressures on on on on on salary and and pension increases Longevity risk: The plan plan plan liability is is calculated by reference to the the the the the the best estimate of of of the the the the the the mortality of of of plan plan plan participants participants both during and after their employment An increase increase in in in in the the the the the the life expectancy of of of the the the the the the plan plan plan plan participants participants will increase increase the the the the the the plan liability Salary risk: The plan plan plan plan liability liability is is calculated by reference to the the the the the future projected salaries of of plan plan plan plan participants participants As such an an an an an an an an increase increase increase in in in in the the the the the the the salary of of the the the the the the the plan plan plan plan participants participants above the the the the the the the assumed assumed rate rate will will increase increase increase the the the the the the the plan plan plan plan liability liability liability whereas an an an an an an an an increase increase below the the the the the assumed rate will decrease the the the the the liability The Company’s expected employer contribution for the the the next year year is is Rs 50
276 000
and and the the the weighted average duration of the the defined benefit obligation is between 6 and 13 years CURRIMJEE JEEWANJEE AND COMPANY
LIMITED