Page 56 - SABN AR 2021

Movements for the year
Balance at the beginning of the year
Amounts recognised in profit or loss for the year
Interest cost
Service cost
Benefits paid
Actuarial loss/(gain) recognised in other comprehensive income
Financial assumption loss/(gain) Experience (gain)/loss on liabilities
Balance at the end of the year
Comprises:
Non-current liabilities Current liabilities
10.2 Post-employment group life benefits
2020
R’000
198 309 23 190
(9 304) (32 792)
179 403
169 124 10 279
179 403
19 947 3 243
(10 279)
6 855
18 288
(36 287) 3 495
(11 433)
199 027
188 507
10 520
199 027
Post-employment group life benefits are provided to retired staff in the form of subsidised group life premiums. This covers the total liability, that is, the accumulated post-employment group life benefit liability at 31 March 2021.
Balance at the beginning of the year
Amount recognised in profit or loss for the year:
Interest cost
Service cost
Benefits paid
Actuarial loss/(gain) recognised in other comprehensive income
Financial assumption loss/(gain) Experience loss on liabilities
Balance at the end of the year
Comprises:
Non-current liabilities Current liabilities
Discount rate (post-employment medical aid and group life benefits) Medical aid inflation
Net discount rate (post-employment medical aid benefits)
Net discount rate (post-employment group life benefits)
Salary inflation
Inflation rate
Normal retirement age Pensioner mortality rates
Active members
Pensioners Valuation date
6 203 881
(403) (1 455)
5 226
4 826 400
5 226
11.85% 7.5% 4.04% 4.54% 7.0% 6.0% 60
SA 85–90 Light PA (90)–2 31 March 2020
South African Bank Note Company (RF) Proprietary Limited
5 226
791
596
195
(400)
816
443
373
6 433
5 993
440
56
Annual Report 2021
SA 85–90 Light
2021
R’000
179 403
23 048
20 650
2 398
6 433
11.05%
7.5%
3.3%
3.8%
7.0%
6.0%
PA (90)–2
31 March 2021
60
618 263
(1 521) 66