Reserve Bank of Australia Annual Report 2011

Note 14 – Superannuation Funds (Continued)
2011
$M
OSF UK Scheme Total
Current service cost (33) (27) – – (33) (27)
Interest cost (43) (39) (1) (1) (44) (40)
2010
$M
2011
$M
2010
$M
Benefit payments 33 31 1 1 34 31
Contributions tax 3 3 – – 3 3
Experience adjustments on benefits (31) 3 – – (31) 3
Effects of changes in benefit actuarial
assumptions 22 (69) (1) (2) 21 (71)
Exchange rate gains/(losses) – – 2 2 2 2
Change in accrued benefits (49) (99) 1 – (48) (99)
2011
$M
2010
$M
Actuarial (gains)/losses on assets (1) (2) (1) (1) (3) (3)
Experience adjustments on benefits 31 (3) – – 31 (3)
Effects of changes in benefit actuarial
assumptions (22) 69 1 2 (21) 71
Amortisation of actuarial gains/(losses) (20) (16) – – (19) (16)
Change in actuarial losses not included
in balance sheet under Corridor (12) 48 – 1 (12) 49
Superannuation expense/(income)
included in Statement of
Comprehensive Income
Current service cost 33 27 – – 33 27
Interest cost 44 39 1 1 44 40
Assumed return on plan assets (54) (52) (1) (1) (55) (53)
Amortisation of actuarial (gains)/losses
under Corridor 20 16 – – 19 16
Effect of asset cap – – – – – –
Productivity and superannuation
guarantee contributions 4 4 – – 4 4
Total superannuation expense/(income) 46 35 – – 46 35
The components of this table may not add due to rounding.
96 Reserve bank of Australia