Notes to the Consolidated Financial Statements
(Thousands of US dollars)
67
Dar Al-Maal Al-Islami Trust
Annual Report 2013
34. Retirement benefit plans
(continued)
The movement in the defined benefit obligation over the year was as follows:
Present value
Fair value of
of obligation
plan assets
Total
At 1 January 2013
65,434
(52,052)
13,382
Current service cost
1,952
-
1,952
Financial costs/(income)
1,155
(995)
160
Past service cost and gains
and losses on settlements (4,703)
-
(4,703)
(1,596)
(995)
(2,591)
Remeasurements:
Return on plan assets,
excluding amounts
included in financial
costs/(income)
-
(4,272)
(4,272)
(Gain)/loss from change
in financial assumptions
(4,034)
-
(4,034)
Experience (gains)/losses
1,059
-
1,059
(2,975)
(4,272)
(7,247)
Exchange differences
1,463
(1,513)
(50)
Contributions:
Employers
-
(1,698)
(1,698)
Plan participants
334
(334)
-
Payments from plans:
Benefit payments
(666)
666
-
Settlements
(4,487)
4,487
-
Insurance premiums
for risk benefits
(277)
277
-
At 31 December 2013
57,230
(55,434)
1,796
