Telstra 2007 Annual Report Download - page 199
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Telstra Corporation Limited and controlled entities
196
Notes to the Financial Statements (continued)
(d) Reconciliation of change in fair value of plan assets
The actual return on defined benefit plan assets was 16.6% (2006:
16.2%) for Telstra Super and 17.9% (2006: 12.3%) for HK CSL Retirement
Scheme.
(e) Reconciliation of change in present value of wholly funded
defined benefit obligation
(i) Benefits paid includes $653 million (2006: $640 million) of
entitlements (to exiting defined benefit members) which have been
retained in Telstra Super but transferred to the defined contribution
scheme.
For fiscal 2008, Telstra Super expect to pay $172 million for total
benefit payments reflecting expected future service.
28. Post employment benefits (continued)
Telstra Group Telstra Entity
As at 30 June As at 30 June
2007 2006 2007 2006
$m $m $m $m
Fair value of defined benefit plan assets at beginning of year . . . . . . . . . . . . . . 4,553 4,518 4,458 4,439
Expected return on plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 316 322 310 316
Employer contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33--
Member contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 46 30 45
Notional transfer of funds for defined cont ribution benefits. . . . . . . . . . . . . . . . . (114) (89) (114) (89)
Benefits paid (i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (685) (715) (682) (712)
Actuarial gains. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 261 480 252 474
Plan expenses after tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10) (15) (10) (15)
Foreign currency exchange differences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (12) 3--
Fair value of defined benefit plan assets at end of year . . . . . . . . . . . . . . . . . . 4,342 4,553 4,244 4,458
Telstra Group Telstra Entity
As at 30 June As at 30 June
2007 2006 2007 2006
$m $m $m $m
Present value of defined benefit obligation at beginning of year . . . . . . . . . . . . 3,675 4,308 3,605 4,234
Current service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188 227 184 220
Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 187 205 184 202
Member contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 712 7
Benefits paid (i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (685) (715) (682) (712)
Actuarial losses/(gains). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 240 (340) 237 (329)
Curtailment loss/(gain) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 (17) 38 (17)
Foreign currency exchange differences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (9) ---
Present value of wholly funded defined benefit obligation at end of year. . . . . . . 3,646 3,675 3,578 3,605