101 / 170
2016
R’000
2015
R’000
25.
POST-RETIREMENT OBLIGATIONS
(continued)
Pension and provident funds
(continued)
Summarised details of the defined benefit pension funds
(continued)
Movement in the plans’ assets
Balance at beginning of year
1 302 426
1 087 111
Transfer as a result of unbundling
25 128
–
Transfer from early retirement fund
3 657
5 168
Contributions paid into the plans
65 629
107 957
Benefits
(17 592)
(29 332)
Risk premiums and expenses
(1 633)
(2 356)
Interest income
20 156
32 252
Return on plan assets in excess of interest
3 455
150 961
Settlements
(1 505 388)
–
Exchange rate adjustments on foreign plans
237 930
(49 335)
Balance at end of year
133 768
1 302 426
The plans’ assets comprise
Cash
14 932
5 221
Equity securities
69 161
46 986
Bills, bonds and securities
48 889
1 250 219
Other
786
–
133 768
1 302 426
Amounts recognised in the statement of profit or loss
Current service costs
46 586
67 719
Past service costs
–
9 143
Interest on obligations
19 175
33 712
Interest on assets
(20 156)
(32 252)
Ceiling adjustments and other limitations
641
2 493
Risk premiums and expenses
1 628
2 356
Gain arising from settlements, plan amendments and curtailments
(18 452)
(10 899)
29 422
72 272
Amounts recognised in other comprehensive income
Return on plan assets in excess of interest income
(3 455)
(150 961)
Actuarial losses
85 679
84 906
Ceiling adjustments and other limitations
(28 435)
24 533
53 789
(41 522)
Bidcorp Limited Annual integrated report 2016 |
Page 97
Financial overview