Annual Report 2012

Notes to the financial statements(Expressed in millions of RMB, unless otherwise stated)44 Accrued staff costs (continued)(1) Supplementary retirement benefits (continued)(a) Breakdowns of supplementary retirement benefits obligations of the Group and the Bank are as follows:2012 2011Fair value of plan assets 6,370 –Supplementary retirement benefits obligations 635 7,032Unrecognised actuarial losses 64 1Present value of supplementary retirement benefit obligations 7,069 7,033(b) Movements of supplementary retirement benefits of the Group and the Bank are as follows:2012 2011As at 1 January 7,032 6,901Payments made (625) (507)Expenses recognised in profit or loss– Interest cost 232 251– Past service costs 366 387Payments for plan assets (6,370) –As at 31 December 635 7,032Interest cost was recognised in other general and administrative expenses. Past service costs were recognised in staff costs.(c) Principal actuarial assumptions of the Group and the Bank as at the end of the reporting period are asfollows:2012 2011Discount rate 3.50% 3.50%Health care cost increase rate 7.00% 7.00%Average expected future lifetime of eligible employees 13.1 years 13.6 years(2) The Group and the Bank had no overdue balance of accrued staff costs as at the end of the reporting period.45 Taxes payableGroupBank2012 2011 2012 2011Income tax 44,361 38,899 44,076 38,747Business tax and surcharges 8,373 7,752 8,281 7,688Others 537 538 505 515Total 53,271 47,189 52,862 46,95046 Interest payableGroupBank2012 2011 2012 2011Deposits from banks and non-bank financial institutions 2,652 1,405 2,671 1,392Deposits from customers 117,974 76,850 117,724 76,665Debts securities issued 2,137 1,921 2,137 1,921Others 452 378 272 334Total 123,215 80,554 122,804 80,312China Construction Bank Corporation annual report 2012149