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Annual Report
2015
For the years ended 31 December 2015 and 2014, the amounts recognised in the statement of comprehensive revenues
and expense are as follows:
Consolidated
SET
2015
2014
2015
2014
Current service costs
15,945
20,176
15,945
20,176
Interest costs
7,151
7,641
7,151
7,641
Actuarial gain
-
567
-
567
23,096
28,384
23,096
28,384
For the year ended 31 December 2014, the Group recognised actuarial gain amounted for Baht 0.57 million in the
statement of comprehensive revenue and expense. The Group did not retrospective adjust the prior year financial statements since
the amount was not material to the financial statement. The change in the accounting policy has disclosed in Note 3.
For the years ended 31 December 2015 and 2014, the principal actuarial assumptions used were as follows:
2015
2014
Discount rate as of 31 December
3.60%
3.60%
Salary increase rate - permanent employees
5.00% - 10.00% 5.00% - 10.00%
Salary increase rate - contract employees
4.50%
4.50%
Average turnover rate
0.00% - 13.00% 0.00% - 13.00%
Pre-retirement mortality rate
3.00%
3.00%
Retirement age
60 years old
60 years old
Impact on defined benefit obligation
Change in
assumption
Increase in
assumption
Decrease in
assumption
Discount rate
1% Decrease by 11% Increase by 13%
Salary growth rate
1% Increase by 15% Decrease by 13%
Turnover growth rate
20% Decrease by 8% Increase by 9%
The above sensitivity analyses are based on a change in
an assumption while holding all other assumptions constant.
In practice, this is unlikely to occur, and changes in some
of the assumptions may be correlated. When calculating the
sensitivity of the defined benefit obligation to significant actuarial
assumptions the same method (present value of the defined
benefit obligation calculated with the projected unit credit
method at the end of the reporting period) has been applied
as when calculating the pension liability recognised within the
statement of financial position.
(Unit : Baht’000)