Cathay Pacific 2009 Annual Report Download - page 75

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17. Retirement benefits (continued)
Group Company
2009
HK$M
2008
HK$M
2009
HK$M
2008
HK$M
Net liability recognised in the statement of
financial position:
Present value of funded obligations 7,460 7,108 6,870 6,522
Fair value of plan assets (7,217) (5,924) (6,583) (5,426)
243 1,184 287 1,096
Net unrecognised actuarial losses (27) (903) (63) (797)
216 281 224 299
Group Company
2009
HK$M
2008
HK$M
2009
HK$M
2008
HK$M
Movements in present value of funded
obligations comprise:
At 1st January 7,108 8,223 6,522 7,549
Movements for the year
– current service cost 316 389 284 345
– interest cost 342 270 314 244
– employee contributions 14 20 14 20
– benefits paid (681) (470) (645) (426)
– actuarial losses/(gains) 361 (1,324) 381 (1,210)
At 31st December 7,460 7,108 6,870 6,522
Group Company
2009
HK$M
2008
HK$M
2009
HK$M
2008
HK$M
Movements in fair value of plan assets comprise:
At 1st January 5,924 9,131 5,426 8,353
Movements for the year
– expected return on plan assets 371 609 337 549
– employee contributions 14 20 14 20
– employer contributions 382 2359 –
– benefits paid (681) (470) (645) (426)
– actuarial gains/(losses) 1,207 (3,368) 1,092 (3,070)
At 31st December 7,217 5,924 6,583 5,426
Group Company
2009
HK$M
2008
HK$M
2009
HK$M
2008
HK$M
Fair value of plan assets comprises:
Equities 4,297 3,717 3,785 3,396
Debt instruments 1,725 1,780 1,607 1,616
Deposits and cash 526 427 522 414
Others 669 –669 –
7,217 5,924 6,583 5,426
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 STATEMENT OF FINANCIAL POSITION
Cathay Pacific Airways Limited Annual Report 2009 73