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215
Tiger Brands Limited Integrated Annual Report
2014
Annual financial statements
35 Post-retirement medical aid obligations
continued
35.1
Sensitivity analysis continued
GROUP
Base case
Discount rate
2014
Key assumption (%)
8,50
(1,0)
1,0
Present value of obligations 30 September 2014
(R’million)
626,4
706,6
561,1
% change
12,8
(10,4)
2013 (restated)*
Key assumption (%)
9,00
(1,0)
1,0
Present value of obligations 30 September 2013
(R’million)
580,9
654,3
521,0
% change
12,6
(10,3)
GROUP
Base case Expected retirement age
2014
Key assumption
60/63/65
years
1 year
younger
1 year
older
Present value of obligations 30 September 2014
(R’million)
626,4
630,7
620,9
% change
0,7
(0,9)
2013 (restated)*
Key assumption
60/63/65
years
1 year
younger
1 year
older
Present value of obligations 30 September 2013
(R’million)
580,9
584,7
576,8
% change
0,7
(0,7)
(R’million)
2014
Restated*
2013
2012
2011
2010
Trend information
Present value of obligations
(626,4)
(580,9)
(584,4)
(544,3)
(499,3)
Present value of obligations in
excess of plan assets
(626,4)
(580,9)
(584,4)
(544,3)
(499,3)
Experience adjustments
(5,9)
(2,2)
(9,8)
1,6
17,4
Actuarial (gains)/losses before
changes in assumptions:
In respect of present value of
obligations
(5,9)
(2,2)
(9,8)
1,6
17,4
*
The amounts have been restated due to the adoption of IAS 19R.
The duration of the liability at 30 September 2014 is 13,0 years (2013: 12,9 years).