2010-11 - Grasim
2010-11 - Grasim
2010-11 - Grasim
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UltraTec<br />
ech Cement Limited<br />
SCHEDULE 21 (Contd.)<br />
<strong>2010</strong>-1<br />
0-<strong>11</strong> 2009-1<br />
09-10<br />
Gratuit<br />
uity Post<br />
Gratuit<br />
uity<br />
Post<br />
Retire-<br />
Retire-<br />
Pension<br />
ment<br />
Pension<br />
ment<br />
Funded<br />
Others<br />
Medical Funded<br />
Others<br />
Medical<br />
Benefits<br />
Benefits<br />
(vi) Act<br />
ctuarial<br />
Assumptions:<br />
8%-<br />
Discount Rate 8.25% <strong>11</strong>% 8.25%- 8.25% 8.45% 12.00% 8.45% 8.45%<br />
8.28%<br />
Turnover Rate 1%- 1%- 1%-<br />
1%-2% 10% - - 2% 10% - -<br />
Publish GA PA(90) PA(90) Publish GA PA(90) PA(90)<br />
Rates 1983 annuity annuity Rates 1983 annuity annuity<br />
Mortality of LIC Mortality rates rates of LIC Mortality rates rates<br />
94-96 down by down by 94-96 Table down by down by<br />
4 years 4 years 4 years 4 years<br />
Salary Escalation Rate 8% 10% - - 8% 15% - -<br />
Staff - Staff -<br />
Retirement age 60 Yrs 55 Yrs - - 60 Yrs 55 Yrs - 60 Yrs<br />
Workers-<br />
Workers-<br />
58 Yrs 58 Yrs<br />
Leaving Service:<br />
Age: 21-44 2% - - - - - - -<br />
Age: 45 & above 1% - - - - - - -<br />
(vii) Basis used to determine Expected Rate ate of Ret<br />
eturn urn on Plan Assets:<br />
Expected rate of return on Plan Assets is based on expectation of the average long term rate<br />
of return expected on investments of the fund during the estimated term of the obligations.<br />
(viii) Salary Escalation Rate:<br />
The estimates of future salary increases are considered taking into account the inflation,<br />
seniority, promotion and other relevant factors.<br />
91 ⊳
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