2010-11 - Grasim

UltraTec
ech Cement Limited
` in Crores
Gratuit
uity
(Funded)
2010-1
0-11 2009-1
09-10
Post
Post
Pension
Retirement
Gratuit
uity
Pension
Retirement
Medical (Funded)
Medical
Benefits
Benefits
(vi)
Public Sector Bonds 8% N.A. N.A. - N.A. N.A.
Insurer Managed Funds 83% N.A. N.A. 100% N.A. N.A.
Others 2% N.A. N.A. - N.A. N.A.
Tot
otal
100%
0% N.A. N.A. 100%
0% N.A. N.A.
Act
ctuarial
Assumptions:
Discount Rate 8.25% 8%-8.25% 8.25% 8.45% 8.45% 8.45%
-8.28%
Turnover Rate 1%-2% - - 1% - 2% - -
Published PA(90) PA(90) Published PA(90) PA(90
Rates of annuity annuity Rates of annuity annuity
Mortality LIC rates rates LIC rates rates
94-96 down by down 94-96 down down
4 years by 4 years by 4 by 4)
years years
Salary Escalation Rate 8% - - 8% - -
Retirement age Staff – - - Staff – - 60 Yrs
60 Yrs 60 Yrs
Workers – Workers –
58 Yrs 58 Yrs
Leaving Service:
Age: 21-44 2% — — — — —
Age: 45 & above 1% — — — — —
(vii) Basis used to determine Expected Rate ate of Ret
eturn urn on Plan Assets:
Expected rate of return on Plan Assets is based on expectation of the average long term rate of
return expected on investments of the fund during the estimated term of the obligations.
(viii) Salary Escalation Rate:
The estimates of future salary increases are considered taking into account the inflation, seniority,
promotion and other relevant factors.
(ix)
Experience Adjustments:
(I)
Gratuit
uity (Funded):
` Crores
Particulars
2006-07
06-07 2007
07-08
2008-09
08-09 2009-1
09-10 2010-1
0-11
Defined Benefit Obligation 22.35 28.12 41.98 52.10 177.88
Plan Assets 19.08 22.66 40.36 44.84 161.16
Surplus/(Deficit) (3.27) (5.46) (1.62) (7.26) (16.72)
55 ⊳