Page 202 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
19.1 Provision of Liabilities for Employee Benefits under Labor Law
Changes in the present values of provision of liabilities for employee benefits under labor law for the years ended December 31, are as follows :
(Unit : million baht)
Consolidated Financial Statements
Separate Financial Statements
2024
2023
2024
2023
4,430.89
4,691.38
283.26 152.87
(481.57) (215.05)
4,425.01
4,685.61
283.13 152.87
(481.55) (215.05)
284.06
282.76
136.64
136.46
349.87
349.87
(250.87)
(250.87)
4,950.59
4,430.89
4,943.23
4,425.01
Balance as at January 1
Recognized portion in profit or loss : Current service cost
Interest cost
Recognized portion in other comprehensive income : (Loss) Profit from actuarial estimates
Paid benefits
Balance as at December 31
As at December 31, 2024 and 2023, the weighted average duration to pay the long-term employee benefits of the Company and its subsidiaries is 15 - 16 years.
Significant actuarial assumptions are summarized below :
Discount rate
Long-term inflation rate
Future salary increase rate
Turnover rate (depending on age range) Mortality rate
Consolidated Financial Statements
Separate Financial Statements
2024 (%)
2023 (%)
2024 (%)
2023 (%)
2.54 - 3.14
3.12 - 3.14 3.00 5.00 - 6.00 0.19 - 34.38
Thai Death table 2017
3.12 3.00 6.00 0.19 - 1.72
2.54
3.00
3.00
5.00 - 6.00
6.00
0.19 - 34.38
0.19 - 1.72
200
Thailand Post Company Limited