GROUP COMPANY Sep-23 MUR m Sep-22 MUR m (vi) Principal actuarial assumptions at end of year: Discount rate 4.5% 4.9% Future pension increases 5.0% 5.0% Average retirement age (ARA) 60 60 Average life expectancy for: - Male at ARA 19.5 years 19.5 years - Female at ARA 24.2 years 24.2 years Comments on the results: The liability experience loss of MUR 2.3m is mainly due to actual mortality experience being lower than expected over the past year.. The liability gain due to change in financial assumptions of MUR 0.4m is mainly due to the decrease in the discount rate from 4.9% p.a in 2022 to 4.5% p.a in 2023. (c) Other retirement benefits Other post retirement benefits comprise mainly of gratuity on retirement payable under the Mauritian Workers’ Rights Act 2019 and other benefits. Other retirement benefits comprise full and residual retirement gratuities. GROUP COMPANY Sep-23 MUR m Sep-22 MUR m Sep-23 MUR m Sep-22 MUR m (i) Amounts recognised in the Statements of Financial Position are as follows: Present value of unfunded obligation 78.7 71.3 76.4 67.2 Liability in the Statements of Financial Position 78.7 71.3 76.4 67.2 (ii) Amounts recognised in profit or loss and other comprehensive income are as follows: Service cost: Current service cost 7.2 5.6 6.9 5.2 Past service cost (18.0) 7.4 (17.1) 6.7 Net interest on net defined benefit liability 3.4 2.4 3.3 2.3 Components of amount recognised in profit or loss (7.4) 15.4 (6.9) 14.2 Liability experience loss 7.8 5.3 7.6 4.6 Liability loss due to change in financial assumptions 7.8 0.4 7.4 – Components of amount recognised in other comprehensive income 15.6 5.7 15.0 4.6 181 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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