2011/2012 Annual Report - Metro Tasmania

NOTES TO THE FINANCIAL STATEMENTS
Note 28. SUPERANNUATION AND DEFINED BENEFIT PLAN (continued)
Amounts Recognised in Other Comprehensive Income – Para 120A(h)
Financial year ending 30 June 2012 30 June 2011
$’000 $’000
Actuarial (gains)/losses 6,113 (1,115)
Adjustment for limit on net asset – –
Cumulative Amount Recognised in the Other Comprehensive Income – Para 120A(i)
Financial year ending 30 June 2012 30 June 2011
$’000 $’000
Cumulative amount of actuarial (gains)/losses at end of prior year 736 1,851
Actuarial (gains)/losses recognised during the year end 6,113 (1,115)
Cumulative amount of actuarial (gains)/losses at end of year 6,849 736
Fund Assets – Para 120A(j)
The percentage invested in each asset class at the Statement of Financial Position date:
As at 31 March 2012 31 March 2011
Australian equity 29% 25%
International equity 18% 22%
Fixed income 12% 13%
Property 33% 19%
Alternatives/other 5% 18%
Cash 3% 3%
Fair Value of Fund Assets – Para 120A(k)
The fair value of Fund assets includes no amounts relating to:
• any of the authority’s own financial instruments
• any property occupied by, or other assets used by, the authority
Expected Rate of Return on Fund Assets – Para 120A(l)
The expected return on assets assumption is determined by weighting the expected long-term
return for each asset class by the target allocation of assets to each asset class and allowing for the
correlations of the investment returns between asset classes. The returns used for each asset class
are net of estimated investment tax and investment fees.
56 METRO Annual Report 2011 | 2012