Average longevity at retirement age (65) for current pensioners (years) Male 22.90 22.80 N/A N/A Female 25.50 25.40 N/A N/A Average longevity at retirement age (65) for current employees (years) Male 22.90 22.80 N/A N/A Female 25.40 25.40 N/A N/A At 30 June 2015, the weighted-average duration of the defined benefit obligation was 13 for Pension Scheme (2014:13 years) and 5 years for Gold State Superannuation Scheme (2014: 6 years). The Pension Scheme and the pre-transfer benefit for the GSS expose the Authority to actuarial risks, such as salary risk, longevity risk and interest rate risk. The sensitivity analyses below have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, holding all other assumptions constant. Defined Benefit Obligation Pension Scheme Pre-transfer benefit Gold State – Superannuation Scheme 2015 2014 2015 2014 Increase Decrease Increase Decrease $000 $000 $000 $000 Discount rate (1% (620) 767 (27) 29 movement) Future salary growth N/A N/A 27 (25) (1% movement)
Average longevity at retirement age (65) for current pensioners (years) Male 22.90 22.80 N/A N/A Female 25.50 25.40 N/A N/A Average longevity at retirement age (65) for current employees (years) Male 22.90 22.80 N/A N/A Female 25.40 25.40 N/A N/A At 30 June 2015, the weighted-average duration of the defined benefit obligation was 13 for Pension Scheme (2014:13 years) and 5 years for Gold State Superannuation Scheme (2014: 6 years). The Pension Scheme and the pre-transfer benefit for the GSS expose the Authority to actuarial risks, such as salary risk, longevity risk and interest rate risk. The sensitivity analyses below have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, holding all other assumptions constant. Defined Benefit Obligation Pension Scheme Pre-transfer benefit – Gold State Superannuation Scheme 2015 Increase $000 2014 Decrease $000 2015 Increase $000 2014 Decrease $000 Discount rate (1% movement) (620) 767 (27) 29 Future salary growth (1% movement) N/A N/A 27 (25)
Annual-Report-2014_15-Accessible-Version.docx