BRADKEN LIMITED ANNUAL REPORT 2014 l 70
Notes to the consolidated financial statements
30 June 2014
(continued)
19 Employee defined benefit liability (continued)
2014
2013
$'000
$'000
Life expectation for pensioners at the age of 65:
US Defined benefit retirement plan
Male
17.87
17.79
Female
19.92
19.87
Canadian defined benefit retirement plans
Male
21.40
19.80
Female
23.90
22.10
2014
$'000
Sensitivity analysis
Impact of 1% change to the discount rate on defined benefit obligation at 30 June 2014
Increase in assumption
US Defined benefit retirement plan
3,694
Canadian defined benefit retirement plans
4,232
Decrease in assumption
US Defined benefit retirement plan
(4,461)
Canadian defined benefit retirement plans
(5,428)
Impact of 1% change in the salary rate increase on defined benefit obligation at 30 June 2014
Increase in assumption
Canadian defined benefit retirement plans
(11,315)
Decrease in assumption
Canadian defined benefit retirement plans
11,584
US Defined benefit retirement plan
12.0
Canadian defined benefit retirement plans
15.5
(e) Employer contributions
The average duration of the defined benefit plan obligation at the end of the
reporting period in years is:
Employer contributions to the defined benefit plans are based on recommendations by the plan actuaries. Actuarial assessments
are performed annually, and the last such assessments were made during June 2014.
Total employer contributions expected to be paid by Group companies for the year ending 30 June 2015 are $3,223,979.
Page 70
Bradken Limited
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
(CONTINUED)
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