Annual Report - Ahli United Bank

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Annual Report - Ahli United Bank

26 EMPLOYEE BENEFITS (continued)Defined benefits pension plan (continued)The actual returns (loss) on plan assets were US$ 19,537 thousand (2008: US$ (23,684) thousand).The movement in the asset recognised in the consolidated balance sheet during the year was as follows:2009 2008US$ ’000 US$ ’000At 1 January (5,845) (2,998)Add/(Less):Total expenses as stated above 3,520 2,180Contributions by the Group (5,625) (6,848)Exchange rate and other adjustments (594) 1,821At 31 December (8,544) (5,845)The changes in the present value of the scheme’s obligations were as follows:2009 2008US$ ’000 US$ ’000At 1 January 107,147 158,447Add/(Less):Interest cost 7,379 8,469Employers' part of current service cost 800 1,258Actuarial gains (losses) 25,654 (17,217)Benefits paid (2,796) (2,759)Exchange rate and other adjustments 10,716 (41,051)At 31 December 148,900 107,147The changes in the fair value of the plan assets were as follows:2009 2008US$ ’000 US$ ’000At 1 January 82,023 133,978Add/(Less):Expected return on plan assets 6,204 8,289Contributions paid into the plan 5,625 6,848Actuarial gains (losses) 13,334 (31,973)Benefits paid (2,796) (2,759)Exchange rate and other adjustments 8,171 (32,360)At 31 December 112,561 82,023AUB Annual Report 200983

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