Qantas 2011 Annual Report Download - page 92
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Please find page 92 of the 2011 Qantas annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.THE QANTAS GROUP 90
for the year ended 30 June 2011
Notes to the Financial Statements continued
Qantas Group
$M
$M
$M
$M
$M
HISTORICAL AMOUNTS
Fair value of plan assets , , , , ,
Present value of dened benet obligation , , , , ,
(Decit)/surplus () () ()
Experience adjustments (loss)/gain on plan assets () () ()
Experience adjustments gain/(loss) on plan liabilities () () ()
Qantas Group
%
%
PRINCIPAL ACTUARIAL ASSUMPTIONS EXPRESSED AS WEIGHTED AVERAGES PER ANNUM
Discount rate . .
Expected return on plan assets . .
Future salary increases . .
The expected long-term rate of return is based on the weighted average of expected returns on each individual asset class where the
weightings reect the proportion of dened benet assets invested in each asset class. Each asset class’ expected return is based on
expectations of average returns over the next years.
Employer contributions to the dened benet superannuation plans are based on recommendations by the plans’ actuaries. It is estimated
that $ million will be paid by Qantas for employees accruing dened benets for the year ended June (: $ million for the
year ended June ).
In April Qantas and the Trustee of the QSP agreed to additional funding of up to $ million over three years following the adverse
performance of investment markets as a result of the Global Financial Crisis. As at June Qantas has contributed $ million of the
additional funding (: $ million).
Dened contribution fund
The Qantas Group’s results include $ million (: $ million) of expenses in relation to dened contribution funds.
31. Related Parties
A KEY MANAGEMENT PERSONNEL
The Key Management Personnel (KMP) of the Qantas Group during the year were:
Directors
Leigh Clifford, AO, Chairman
Alan Joyce, Chief Executive Ofcer
Peter Cosgrove, AC, MC, Non-Executive Director
Patricia Cross, Non-Executive Director
Richard Goodmanson, Non-Executive Director
Garry Hounsell, Non-Executive Director
Corinne Namblard, Non-Executive Director (appointed June )
Paul Rayner, Non-Executive Director
John Schubert, AO, Non-Executive Director
James Strong, AO, Non-Executive Director
Barbara Ward, AM, Non-Executive Director
Key Management Executives
Bruce Buchanan, Chief Executive Ofcer Jetstar
Gareth Evans, Chief Financial Ofcer (appointed as KMP effective June )
Rob Gurney, Group Executive Qantas Commercial
Simon Hickey, Chief Executive Ofcer Qantas Frequent Flyer
Jayne Hrdlicka, Group Executive Strategy and Technology (appointed as KMP effective February )
Lyell Strambi, Group Executive Qantas Operations
30. Superannuation continued