Page 130 - Neal and Massy Holdings Annual Report 2012

128 2012
NOTES TO THE Consolidated FINANCIAL STATEMENTS
September 30, 2012
Expressed in Thousands of Trinidad and Tobago dollars
16 Retirement Benefit Assets (continued)
Neal & Massy Group pension fund plan (continued)
2012 2011 2010 2009 2008
$ $ $ $ $
Plan assets 1,420,661 1,343,676 1,207,711 1,121,556 1,106,472
Defined benefit obligation (1,042,565) (944,234) (908,593) (878,909) (781,301)
Surplus 378,096 399,442 299,118 242,647 325,171
Experience adjustments
on plan liabilities (8,252) (7,568) (10,934) (13,317) (18,576)
Experience adjustments
on plan assets 13,199 82,855 27,349 (44,974) 16,942
Overseas plans – other
The amounts recognised in the statement of financial position are as follows:
2012 2011
$ $
Fair value of plan assets 195,285 192,069
Present value of the defined benefit obligation (118,456) (113,591)
76,829 78,478
Unrecognised asset (44,789) (45,071)
Asset recognised in the statement of financial position 32,040 33,407