Financial Statements Notes to the Financial Statements 19. 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 2024 2023 RM’mil RM’mil Present value of unfunded obligations 18 122 117 Movement in liability for defined benefit obligations At 1 January 117 102 Recognised in staff costs 20 18 Recognised in other comprehensive income 1 3 Others (16) (6) At 31 December 122 117 Actuarial assumptions Principal actuarial assumptions at the end of the reporting period: Group 2024 2023 % % Discount rate 4.5 – 7.00 4.2 – 7.35 Future salary growth 5.0 – 8.0 5.0 – 8.0 Future mortality 0.01 – 1.15 0.01 – 1.15 IHH Healthcare Berhad | Annual Report 2024 172
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