25 POST EMPLOYMENT BENEFIT LIABILITIES Continued (b) Unfunded pension schemes Unfunded pension schemes comprise of pensions paid out of cash flow and relates to contribution for retired members. GROUP COMPANY Sep-23 MUR m Sep-22 MUR m (i) Amount recognised in the Statements of Financial Position are as follows: Present value of unfunded obligation 23.5 23.6 Liability in the Statements of Financial Position 23.5 23.6 (ii) Amount recognised in profit or loss and other comprehensive income are as follows: Net interest on net defined benefit liability 1.0 1.0 Components of amount recognised in profit or loss 1.0 1.0 Liability experience loss 2.3 2.1 Liability loss/(gain) due to change in financial assumptions 0.4 (0.4) Components of amount recognised in other comprehensive income 2.7 1.7 (iii) Movements in liability recognised in Statements of Financial Position: At 1 October 23.6 24.4 Interest expense 1.0 1.0 Other benefits paid (3.8) (3.5) Liability experience loss 2.3 2.1 Liability loss /(gain) due to change in financial assumptions 0.4 (0.4) At 30 September 23.5 23.6 (iv) Sensitivity Analysis on defined benefit obligation at end of period Increase due to 1% decrease in discount rate 1.1 1.1 Decrease due to 1% increase in discount rate 1.0 1.0 The above sensitivity analysis has been carried out by recalculating the present value of the obligation at the end of the period after increasing or decreasing the discount rate while leaving all other assumptions unchanged. Any similar variation in the other assumptions would have shown smaller variations in the defined benefit obligation. (v) Future cash flows - The funding policy is to pay benefits out of the Group’s cashflow as and when due. - Expected employer contributions to post-employment benefit plans for the year ending 30 September 2024 MUR 3.9m. The weighted average duration of the defined benefit obligations is 4 years. EXPLANATORY NOTES 30 SEPTEMBER 2023 180 CIM FINANCE ANNUAL REPORT
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