Cathay Pacific 2006 Annual Report Download - page 74

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Cathay Pacific Airways Limited Annual Report 2006
72
14. Retirement benefits (continued)
Group Company
2006
HK$M
2005
HK$M
2006
HK$M
2005
HK$M
Movements in present value of funded
obligations comprise:
At 1st January 7,341 7,227 6,818 6,825
Movements for the year
– current service cost 325 382 299 354
– interest cost 336 297 300 273
– employees contributions 27 31 27 31
– benefits paid (530) (464) (509) (449)
– purchase of a subsidiary 78 –––
– actuarial losses/(gains) 267 (132) 261 (216)
At 31st December 7,844 7,341 7,196 6,818
Group Company
2006
HK$M
2005
HK$M
2006
HK$M
2005
HK$M
Movements in fair value of plan assets comprise:
At 1st January 7,387 6,933 6,833 6,415
Movements for the year
– expected return on plan assets 437 411 403 380
– employees contributions 27 31 27 31
– employer contributions 127 297 120 285
– benefits paid (530) (464) (509) (449)
– purchase of a subsidiary 88 –––
– actuarial gains 529 179 495 171
At 31st December 8,065 7,387 7,369 6,833
Group Company
2006
HK$M
2005
HK$M
2006
HK$M
2005
HK$M
Fair value of plan assets comprises:
Equities 5,070 5,049 4,724 4,739
Debt instruments 1,962 2,051 1,848 1,941
Deposits and cash 807 157 797 153
Others 226 130 ––
8,065 7,387 7,369 6,833
The overall expected rate of return on plan assets is determined based on the average rate of return of major
categories of assets that constitute the total plan assets.
Notes to the Accounts Balance Sheet