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118 • Republic Bank (Grenada) Limited 2025 Annual Report • FINANCIALS
Notes to the Financial Statements
For the year ended September 30, 2025. Expressed in Thousands of Eastern Caribbean dollars ($’000), except where otherwise stated.
9 Employee benefits/obligations (continued)
d Liability profile
The defined benefit obligation is allocated between the Plan’s members as follows:
Defined Post-
benefit retirement Group life
pension plan medical obligations
% % %
- Active members 58.00 58.00 37.00
- Defined contribution liabilities 10.00 – –
- Deferred members 2.00 – –
- Pensioners 30.00 42.00 63.00
Pension
The weighted average duration of the defined benefit obligation as at September 30, 2025, was 14.3 years.
Nearly 100 percent of the value of the benefits for active members is vested.
47 percent of the defined benefit obligation for active members is conditional on future salary increases.
Medical
The weighted average duration of the defined benefit obligation as at September 30, 2025, was 17.4 years.
36 percent of the benefits for active members are vested.
Group Life
The weighted average duration of the defined benefit obligation as at September 30, 2025, was 15.6 years.
54 percent of the benefits for active members are vested.
26 percent of the defined benefit obligation for active members was conditional on future salary increases.
