GROUP COMPANY Sep-23 MUR m Sep-22 MUR m Sep-23 MUR m Sep-22 MUR m (vi) Principal actuarial assumptions at end of year: Discount rate 4.5% 4.9% 4.5% 4.9% Future salary increases 4.2% 4.3% 4.2% 4.3% Future pension increases 2.0% 2.0% 2.0% 2.0% Average retirement age (ARA) 65 65 65 65 Average life expectancy for: - Male at ARA 15.9 years 15.9 years 15.9 years 15.9 years - Female at ARA 20 years 20 years 20 years 22 years (vii) The negative past service cost of MUR 18m can be explained as follows: Sep-23 MUR m Past Service Cost – Change in the retirement gratuity formula reversion 15/26 (17.8) Previously non-scheme employees who joined Superfund and RPF during the year (0.2) Total Past service cost (18.0) (d) Other long term employee benefit plan GROUP COMPANY Sep-23 MUR m Sep-22 MUR m Sep-23 MUR m Sep-22 MUR m At 1 October 9.6 11.3 9.6 11.3 Credited to profit or loss (0.3) (1.7) (0.3) (1.7) At 30 September 9.3 9.6 9.3 9.6 Section 47 (1) of the Mauritian Workers Right Act 2019 (WRA 2019) requires that a worker who remains in continuous employment with the same employer for a period of at least 5 consecutive years shall be entitled to vacation leave of not more than 30 days, whether taken consecutively or otherwise, for every period of 5 consecutive years, to be spent abroad, locally or partly abroad and partly locally. The Group has recognised in the Statement of Profit or Loss the expected costs of the vacation leaves. The provision for vacation leave does not take into account any period of employment prior to 24 October 2019 to meet the requirement of the WRA 2019. 183 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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