notes - Mauritius Housing MHC

NOTES
FOR THE YEAR ENDED 30 JUNE 2002
18. RETIREMENT BENEFIT OBLIGATIONS (CONTD)
financial
to the
STATEMENTS
The amounts recognised in the income statement are as follows:
2002 2001
Rs’000
Rs’000
Current service cost 4,500 4,101
Interest cost 9,950 8,500
Expected return on plan assets (9,170) (8,500)
Actuarial loss recognised 234 -
Total included in staff costs 5,514 4,101
Actual return on plan assets 3,710 3,800
Movement in the liability recognised in the balance sheet:
2002 2001
ANNUAL REPORT 2001 - 2002
Rs’000
Rs’000
At 1 July
- as previously reported 4,850 -
- effect of adopting IAS 19 - 4,760
- as restated 4,850 4,760
Total expenses as above 5,514 4,101
Contributions paid (4,444) (4,011)
5,920 4,850
2002 & 2001
Main assumptions:
Discount rate 10.5%
Expected return 11.0%
Pension increase 7.5%
Salary increase 8.5%
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