Financial Statements Notes to the Financial Statements 22. RETIREMENT BENEFITS Certain Malaysia-based and India-based subsidiaries of the Group have defined benefits plans that provide pension benefits to employees upon retirement. The plans entitle a retired employee to receive one lump sum payment upon retirement. At the end of the financial year, the present values of the unfunded obligations are as follows: Group Note 2023 2022 RM’000 RM’000 Present value of unfunded obligations 21 117,221 102,363 Movement in liability for defined benefit obligations At 1 January 102,363 99,434 Recognised in staff costs 18,345 17,401 Recognised in other comprehensive income 3,291 (408) Others (6,778) (14,064) At 31 December 117,221 102,363 Actuarial assumptions Principal actuarial assumptions at the end of the reporting period: Group 2023 2022 % % Discount rate 4.2–7.35 4.2–7.4 Future salary growth 5.0–8.0 5.0–8.0 Future mortality 0.01–1.15 0.01–1.15 IHH Healthcare Berhad 186
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