REPORTING CONTEXT ABOUT US OUR OPERATING CONTEXT OUR PERFORMANCE OUR LEADERSHIP GOVERNANCE OUR FINANCIAL STATEMENTS SHAREHOLDERS' CORNER (iii) The movement in the fair value of plan assets of the year is as follows: THE GROUP THE COMPANY 2022 MUR '000 2021 MUR '000 2022 MUR '000 2021 MUR '000 At 1 July 562 433 479 946 562 433 479 946 Interest income 24 426 13 923 24 426 13 923 Employer contributions 14 384 16 756 14 384 16 756 Disability PHI 1 851 2 423 1 851 2 423 Transfer from DC Reserve Account 45 904 25 638 45 904 25 638 Benefits paid (53 114) (45 030) (53 114) (45 030) Actuarial gain 19 840 68 777 19 840 68 777 At 30 JUNE 615 724 562 433 615 724 562 433 (iv) The amounts recognised in profit or loss are as follows: THE GROUP THE COMPANY 2022 MUR '000 2021 MUR '000 2022 MUR '000 2021 MUR '000 Service cost 14 244 19 651 14 088 19 448 Net interest cost 8 289 14 732 8 239 14 687 22 533 34 383 22 327 34 135 (v) The amounts recognised in other comprehensive income are as follows: THE GROUP THE COMPANY 2022 MUR '000 2021 MUR '000 2022 MUR '000 2021 MUR '000 Liability experience loss/(gain) due to change in financial assumptions 19 113 (249 952) 19 513 (249 585) Actuarial gain (19 840) (68 777) (19 840) (68 777) Actuarial gain recognised in other comprehensive income (727) (318 729) (327) (318 362) 17. EMPLOYEE BENEFIT OBLIGATIONS (continued) Pension scheme (continued) (vi) The fair value of the plan assets at the end of the reporting period for each category, are as follows: THE GROUP THE COMPANY 2022 MUR '000 2021 MUR '000 2022 MUR '000 2021 MUR '000 Cash and cash equivalents 50 182 45 839 50 182 45 839 Equity investments * categorised by industry type: - Banks & Insurance 102 210 93 364 102 210 93 364 - Industry 9 728 8 886 9 728 8 886 - Investment 56 953 52 024 56 953 52 024 - Leisure & Hotels 32 818 29 978 32 818 29 978 - Commerce 16 256 14 849 16 256 14 849 - Others 1 724 1 575 1 724 1 575 Fixed interest instruments 176 776 161 474 176 776 161 474 Properties (categorised by nature and location) : - Commercial properties in Mauritius 22 597 20 641 22 597 20 641 Investment funds 144 940 132 396 144 940 132 396 Commodities 1 540 1 407 1 540 1 407 Total market value of assets 615 724 562 433 615 724 562 433 Actual return on plan assets 44 267 53 082 44 267 53 082 * Out of the fair value of the planned assets, 33.6% (2021: 22.6%) represent the local equity instruments and 35.6% (2021: 29.5%) the foreign equity instruments. The fair values of the above equity and debt instruments are determined based on quoted market prices in active markets whereas the fair values of properties and derivatives are not based on quoted market prices in active markets. (vii) The principal actuarial assumptions used for accounting purposes were: THE GROUP AND THE COMPANY 2022 % 2021 % Discount rate 4.8/5.2 4.4/5.3 Future long-term salary increase 3.0 2.0 Future expected pension increase 1.0 1.0 Expected return on plan assets 4.4/5.2 4.4/5.3 Future long-term NPS increase 4.0 4.0 Post retirement mortality tables PN00 PA(92) Retirement is assumed to occur at age 60. No allowance has been made for early retirement on the grounds of ill-health or otherwise. NOTES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 187 186 Phoenix Beverages Limited Integrated Report 2022 Phoenix Beverages Limited Integrated Report 2022
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