2016 — Page 118

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