GROUP COMPANY Sep-24 MUR m Sep-23 MUR m Sep-24 MUR m Sep-23 MUR m (vi) Principal actuarial assumptions at end of year: Discount rate (pre-retirement) 5.1% 4.5% 5.1% 4.5% Discount rate (post-retirement) 3.0% 2.5% 3.0% 2.5% Rate of salary increases 4.2% 4.2% 4.2% 4.2% 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 20 years The ‘past service cost’ element disclosed MUR 1.8m relates to two employees transferred from a subsidiary to the Company. (d) Other long term employee benefit plan GROUP COMPANY Sep-24 MUR m Sep-23 MUR m Sep-24 MUR m Sep-23 MUR m (i) The reconciliation of the opening balances to the closing balances for the net defined benefit liability is as follows: At 1 October 9.3 9.6 9.3 9.6 Debited/(Credited) to profit or loss 1.9 (0.3) 1.9 (0.3) At 30 September 11.2 9.3 11.2 9.3 (ii) Amount recognised in profit or loss and other comprehensive income are as follows: Current service cost 1.7 (0.3) 1.7 (0.3) Net interest on net defined benefit liability 0.2 – 0.2 – Components of amount recognised in profit or loss 1.9 (0.3) 1.9 (0.3) (iii) Movements in the defined benefit obligations over the year are as follows: At 1 October 9.3 9.6 9.3 9.6 Current service cost 1.7 (0.3) 1.7 (0.3) Interest expense 0.2 – 0.2 – At 30 September 11.2 9.3 11.2 9.3 (iv) Future cash flows - The funding policy is to pay benefits out of the Group’s cash flow as and when due. - The weighted average duration of the defined benefit obligations is 0.51 years. - Expected employer contribution for the next year is MUR 9.8m. (v) Principal actuarial assumptions at end of year: Discount rate (pre-retirement) 2.9% N/A 2.9% N/A Rate of salary increases 4.2% 4.2% 4.2% 4.2% Average retirement age (ARA) 65 65 65 65 (vi) Sensitivity Analysis on defined benefit obligation at end of period Increase due to 1% decrease in discount rate 0.1 – 0.1 – Decrease due to 1% increase in discount rate 0.1 – 0.1 – Decrease due to 1% increase in salary increase rate 0.1 – 0.1 – Decrease due to 1% decrease in salary increase rate 0.1 – 0.1 – Explanatory Notes 30 September 2024 25. POST EMPLOYMENT BENEFIT LIABILITIES continued (c) Other retirement benefits continued 194
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