DMIT_Annual_Report_2018_EN

N OTES TO THE C ONSOLIDATED F INANCIAL S TATEMENTS (Thousands of US dollars) Dar Al-Maal Al-Islami Trust 85 35. Retirement benefit plans (continued) The significant actuarial assumptions were as follows: 2018 2017 Discount rate - 0.6% Salary growth rate - 2.0% Assumptions regarding future mortality are set based on actuarial advice in accordance with published statistics and experience in each territory. These assumptions translate into an average life expectancy in years for a pensioner retiring at age of 65. 2018 2017 Retiring at the end of the reporting period: Male - 22.4 Female - 24.4 Retiring 25 years after the end of the reporting period: Male - 24.6 Female - 26.6 The movement in the liability recognised in the statement of financial position: 2018 2017 At 1 January (448) 3,629 Defined benefit cost included in P&L - (2,369) Total remeasurement included in OCI - (1,199) Employer contributions - (643) Exchange differences - 134 At 31 December - (448) Plan assets are comprised as follows: 2018 2017 Quoted Unquoted Total % Quoted Unquoted Total % Assets held by insurance company - - - - - 25,396 25,396 60 Property in Switzerland - - - - - 12,778 12,778 30 Cash and cash equivalents - - - - 3,928 - 3,928 10 Total - - - - 3,928 38,174 42,102 100