NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
18 NET EMPLOYEE RETIREMENT BENEFITS LIABILITIES (Continued)
(a) Defined benefit retirement plan (Continued)
(iii)
Movements in the present value of the defined benefit obligations:
At 1 January
2016
2015
HK$'000
HK$'000
41,039
40,434
Remeasurements:
- Actuarial (gain)/loss arising from changes in
financial assumptions
(767)
371
- Actuarial (gain)/loss arising from changes in experience
(196)
628
- Actuarial loss arising from change in
demographic assumptions
16
Current service cost
Interest cost
Benefits paid by the plan
Scheme amendments
Curtailments
Settlement
At 31 December
(iv)
Movements in plan assets:
(947)
999
1,331
1,326
552
559
(4,647)
(4,749)
2,470
(63)
(1,953)
35,312
41,039
2016
HK$'000
2015
HK$'000
At 1 January
36,709
41,854
Interest income
493
569
Return less than discount rate
(298)
(699)
Benefits paid by the plan
(4,647)
(4,749)
Administrative expenses paid
(117)
(305)
Contributions paid to the plan
657
39
Settlement
(1,953)
At 31 December
30,844
36,709
Hong Kong Ferry (Holdings) Company Limited
116
Annual Report 2016