Qantas 2011 Annual Report Download - page 92

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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 dened benet obligation , , , , ,
(Decit)/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 reect the proportion of dened benet 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 dened benet superannuation plans are based on recommendations by the plans’ actuaries. It is estimated
that $ million will be paid by Qantas for employees accruing dened benets 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).
Dened contribution fund
The Qantas Group’s results include $ million (: $ million) of expenses in relation to dened 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 Ofcer
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 Ofcer Jetstar
Gareth Evans, Chief Financial Ofcer (appointed as KMP effective  June )
Rob Gurney, Group Executive Qantas Commercial
Simon Hickey, Chief Executive Ofcer Qantas Frequent Flyer
Jayne Hrdlicka, Group Executive Strategy and Technology (appointed as KMP effective  February )
Lyell Strambi, Group Executive Qantas Operations
30. Superannuation continued