ICICI Bank 2016 Annual Report Download - page 237
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Annual Report 2015-2016 235
Schedules
forming part of the Consolidated Accounts (Contd.)
Consolidated Financial Statements
` in million
Particulars Year ended
March 31, 2016
Year ended
March 31, 2015
Opening obligations 20,683.7 18,356.2
Service cost 1,044.9 1,046.1
Interest cost 1,614.4 1,615.3
Actuarial (gain) / loss 252.5 325.7
Employees contribution 2,150.8 2,058.2
Obligations transferred from/to other companies 68.1 71.6
Benets paid (2,604.9) (2,789.4)
Obligations at end of the year 23,209.5 20,683.7
Opening plan assets 20,683.7 18,352.7
Expected return on plan assets 1,839.8 1,597.5
Actuarial gain / (loss) 27.1 347.0
Employer contributions 1,044.9 1,046.1
Employees contributions 2,150.8 2,058.2
Assets transfer from/to other companies 68.1 71.6
Benets paid (2,604.9) (2,789.4)
Closing plan assets 23,209.5 20,683.7
Plan assets at the end of the year 23,209.5 20,683.7
Present value of the dened benet obligations at the end of the year (23,209.5) (20,683.7)
Asset/(liability) – –
Cost for the year
Service cost 1,044.9 1,046.1
Interest cost 1,614.4 1,615.3
Expected return on plan assets (1,839.8) (1,597.5)
Actuarial (gain)/loss 225.4 (21.3)
Net cost 1,044.9 1,042.6
Actual return on plan assets 1,866.9 1,944.5
Expected employer's contribution next year 1,119.3 1,117.1
Investment details of plan assets
Government of India securities 42.48% 40.52%
Corporate Bonds 52.49% 53.06%
Special deposit scheme 2.35% 2.59%
Others 2.67% 3.83%
Assumptions
Discount rate 7.65%-7.95% 7.80%-7.95%
Expected rate of return on assets 8.22%-9.03% 8.12%-9.00%
Discount rate for the remaining term to maturity of investments 7.68%-7.95% 7.80%-7.97%
Average historic yield on the investment 8.14%-9.01% 8.19%-9.00%
Guaranteed rate of return 8.75% 8.75%