Bradken Limited Annual Report 2015 - page 104

69 l BRADKEN LIMITED ANNUAL REPORT 2015
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Notes to the consolidated financial statements
30 June 2015
(continued)
19 Employee defined benefit liability (continued)
2015
2014
$'000
$'000
Life expectation for pensioners at the age of 65:
US Defined benefit retirement plan
Male
18.65
17.87
Female
21.11
19.92
Canadian defined benefit retirement plans
Male
21.49
21.40
Female
23.96
23.90
2015
$'000
Sensitivity analysis
Impact of 1% change to the discount rate on defined benefit obligation at 30 June 2015
Increase in assumption
US Defined benefit retirement plan
4,930
Canadian defined benefit retirement plans
4,324
Decrease in assumption
US Defined benefit retirement plan
(6,004)
Canadian defined benefit retirement plans
(5,625)
Impact of 1% change in the salary rate increase on defined benefit obligation at 30 June 2015
Increase in assumption
Canadian defined benefit retirement plans
(2,019)
Decrease in assumption
Canadian defined benefit retirement plans
1,752
US Defined benefit retirement plan
12.6
Canadian defined benefit retirement plans
17.2
(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 2015.
Total employer contributions expected to be paid by Group companies for the year ending 30 June 2016 are $2,062,502.
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