Page 58 - GlaxoSmithKline Pharmaceuticals AR 2012

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Notes to the Financial Statements for the year ended 31st December, 2012 — continued
Rupees in lakhs
Previous year
Rupees in lakhs
Gratuity Post retirement
medical and other
benefits
Gratuity Post retirement
medical and other
benefits
(Funded plan) (Non-funded plan) (Funded plan) (Non-funded plan)
(iii) Amount recognised in the Balance Sheet
Present value of obligations as at year end 45,89.25 36,52.80 47,30.42 29,86.89
Fair value of plan assets as at year end 28,68.72 — 31,41.46 —
Net (asset) / liability recognised as at year end# 17,20.53 36,52.80 15,88.96 29,86.89
(iv) Expenses recognised in the Statement
of Profit and Loss
Current service cost .. .. 3,04.58 30.80 2,96.75 35.63
Interest on defined benefit obligation 3,78.29 2,46.56 3,89.87 2,19.32
Expected return on plan assets (2,47.99) — (2,35.65) —
Net actuarial loss / (gain) recognised
in the current year .. .. .. 5,93.20 6,53.25 (98.74) 96.27
Total expense .. .. .. 10,28.08 9,30.61 3,52.23 3,51.22
(v) Asset information
Government of India Securities 41% 39%
Corporate Bonds .. .. .. 26% 28%
Special Deposit Scheme .. .. 25% 23%
Others .. .. .. .. 8% 10%
(vi) Principal actuarial assumptions used
Discount rate (p.a.) .. .. .. 8.30% 8.30% 8.65% 8.65%
Expected rate of return on plan assets (p.a.) 7.50% 7.50%
Annual increase in health care
premiums (p.a) .. .. .. 5% 5%
(vii) Effect of change in Assumed Health Care
Cost Trend rate
1% increase
Effect on the aggregate of service cost
and interest cost .. .. .. 46.85 33.05
Effect on defined benefit obligation 4,34.53 3,11.21
1% decrease
Effect on the aggregate of service cost and
interest cost .. .. .. .. (36.93) (26.54)
Effect on defined benefit obligation (3,48.51) (2,53.92)
(viii) Expected employer's contribution for the
next year .. .. .. .. 7,00.00 2,33.05 7,00.00 2,12.06
# excludes impact of actualisation of gratuity Rs. 39.65 lakhs, leave encashment and compensated absences Rs. 15.53 lakhs
(Previous year - gratuity Rs. 1,92.55 lakhs, leave encashment and compensated absences Rs. (47.74) lakhs).