Telstra 2010 Annual Report Download - page 172
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Telstra Corporation Limited and controlled entities
157
Notes to the Financial Statements (continued)
(a) Net defined benefit plan (liability)/asset - historical
summary
Our net defined benefit plan (liability)/asset recognised in the
statement of financial position for the current and previous periods
is determined as follows:
(b) Reconciliation of changes in fair value of defined benefit
plan assets
T h e a c t u a l r e t u r n o n d e f i n e d b e n e f i t p l a n a s s e t s w a s 4 . 9 % ( 2 0 0 9 :
-11.6%) for Telstra Super and 10.4% (2009: -11.7%) for HK CSL
Retirement Scheme
24. Post employment benefits (continued)
Telstra Group
As at 30 June
2010 2009 2008 2007 2006
$m $m $m $m $m
Fair value of defined benefit plan assets (b) . . . . . . . . . . . . . . 2,546 2,503 3,205 4,342 4,553
Present value of the defined benefit obligation (c) . . . . . . . . . . . 2,934 2,847 3,048 3,646 3,675
Net defined benefit (liability)/asset before adjustment for contributions
tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (388) (344) 157 696 878
Adjustment for contributions tax . . . . . . . . . . . . . . . . . . . (69) (62) 25 118 151
Net defined benefit (liability)/asset at 30 June . . . . . . . . . . . . . (457) (406) 182 814 1,029
Comprised of:
Defined benefit asset. . . . . . . . . . . . . . . . . . . . . . . . . 78 182 814 1,029
Defined benefit liability . . . . . . . . . . . . . . . . . . . . . . . . (464) (414) - - -
(457) (406) 182 814 1,029
Experience adjustments:
Experience adjustments arising on defined benefit plan assets - (loss)/
gain. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (56) (593) (525) 261 480
Experience adjustments arising on defined benefit obligations - gain/
(loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 72 41 69 (206)
Telstra Group
As at 30 June
2010 2009
$m $m
Fair value of defined benefit plan assets at beginning of year. . . . . . . . . . . . . . . . . . 2,503 3,205
Expected return on plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195 252
Employer contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185 99
Contributions tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (28) (15)
Member contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 44
Notional transfer of funds for defined contribution benefits . . . . . . . . . . . . . . . . . . . . . . -(45)
Benefits paid (i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (288) (450)
Actuarial loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (56) (593)
Plan expenses after tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (12) (7)
Foreign currency exchange differences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6) 13
Fair value of defined benefit plan assets at end of year . . . . . . . . . . . . . . . . . . . . . 2,546 2,503