ICICI Bank 2015 Annual Report Download - page 221

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forming part of the Consolidated Accounts (Contd.)
Schedules
219Annual Report 2014-2015
Consolidated Financial Statements
` in million
Particulars Year ended
March 31, 2015
Year ended
March 31, 2014
Expected return on plan assets (518.6) (493.3)
Actuarial (gain)/loss (55.9) (85.1)
Past service cost ––
Losses/(gains) on “Acquisition/Divestiture” ––
Exchange fluctuation loss/(gain) 3.1 5.8
Effect of the limit in para 59(b) of AS 15 on ‘employee benefits’ (0.1) (0.5)
Net cost 807.4 633.2
Actual return on plan assets 1,218.0 484.5
Expected employer’s contribution next year 755.2 732.7
Investment details of plan assets
Insurer managed funds 23.68% 23.07%
Government of India securities 33.67% 14.23%
Corporate bonds 15.35% 25.77%
Special Deposit schemes 3.70% 4.32%
Equity 10.71% 10.66%
Others 12.89% 21.95%
Assumptions
Interest rate 7.80%-8.05% 8.70%-9.33%
Salary escalation rate 5.00%-10.00% 5.00%-10.00%
Estimated rate of return on plan assets 7.50%-8.50% 7.50%-8.00%
Estimated rate of return on plan assets is based on the expectation of the average long-term rate of return on
investments of the Fund during the estimated term of the obligations.
Experience adjustment
` in million
Particulars
Year ended
March 31,
2015
Year ended
March 31,
2014
Year ended
March 31,
2013
Year ended
March 31,
2012
Year ended
March 31,
2011
Plan assets 7,862.7 6,744.3 6,394.9 5,724.3 5,855.8
Defined benefit obligations (8,470.2) (7,252.6) (6,887.3) (6,257.9) (5,943.4)
Amount not recognised as an asset (limit in para
59(b) of AS 15 on ‘employee benefits’)
–(0.1) (0.5) – –
Surplus/(deficit) (607.5) (508.4) (492.9) (533.6) (87.7)
Experience adjustment on plan assets 699.4 (8.4) 51.0 23.1 (90.5)
Experience adjustment on plan liabilities 70.6 308.7 216.0 119.4 (72.8)
The estimates of future salary increases, considered in actuarial valuation, take into consideration inflation, seniority,
promotion and other relevant factors.