|
Telkom provides telephone rebates to its pensioners who joined prior to 1 August 2009. The most recent actuarial valuation was performed as
at 31 March 2023. Eligible employees must be employed by Telkom until retirement age to qualify for the telephone rebates. The scheme is a
defined benefit plan.
The telephone rebate benefit exposes the Group to actuarial risks, such as longevity, currency, interest rate and market risks.
The status of the telephone rebate liability is disclosed below:
| |
Group |
Company |
| Telephone rebates |
31 March
2022
Rm |
31 March
2022
Rm |
| Benefit obligation: |
|
|
|
|
| At the beginning of the year |
377 |
364 |
377 |
364 |
| Current service cost |
2 |
2 |
2 |
2 |
| Interest cost |
39 |
39 |
39 |
39 |
| Actuarial gain |
(32) |
(1) |
(32) |
(1) |
| Curtailment loss |
(4) |
– |
(4) |
– |
| Benefits paid |
(26) |
(27) |
(26) |
(27) |
| Liability as disclosed in the statement of financial position (refer to note 6.5) |
356 |
377 |
356 |
377 |
| The net periodic other comprehensive income includes the following components: |
|
|
|
|
| Actuarial gain/(loss) due to financial assumptions changes |
18 |
(19) |
18 |
(19) |
| Actuarial gain due to experience adjustments |
17 |
15 |
17 |
15 |
| Actuarial (loss)/gain due to demographic assumptions changes |
(3) |
5 |
(3) |
5 |
| Net periodic pension income recognised in other comprehensive income |
32 |
1 |
32 |
1 |
| Cumulative actuarial loss |
136 |
104 |
136 |
104 |
| Number of members |
4 183 |
5 039 |
4 183 |
5 039 |
| Number of pensioners |
13 596 |
13 058 |
13 596 |
13 058 |
|
