2006 - Eastern Caribbean Securities Exchange

Notes to the Consolidated Financial Statementsfor the year ended 31st December, 2006Expressed in Thousands of Trinidad and Tobago dollars10. Pension plans and other post-retirement benefits 2006 2005The numbers below are extracted from information supplied byindependent actuaries.a) Amounts recognised in the statement of earnings inrespect of pension costsCurrent service cost 15,084 14,171Interest cost 29,520 23,747Expected return on plan assets (56,030) (50,690)Amortised net gain (418) (2,055)Total, included in personnel remunerationand benefits (Note 3) (11,844) (14,827)Actual return on plan assets 13,719 24,932b) Pension plan assets and liabilities and other post retirement obligations:2006 2005Pension plan assets 185,921 166,386Pension plan liabilities and post retirement obligations:Retiree’s medical benefit obligations (8,197) (6,615)Pension plan liabilities (341) (114)Total post retirement obligations (8,538) (6,729)c) Movement in pension plan assets/(liabilities)Balance at 1st January 166,272 144,799Total credits for the year 11,844 14,827Contributions paid 7,464 6,646Balance at 31st December 185,580 166,272Pension plan assets 185,921 166,386Pension plan liabilities (341) (114)Pension plan assets - net 185,580 166,272Annual Report 200621