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54GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 20152. Signifcant accounting policies (continued)ix) Employee benefts (continued)Defned contribution plansA defned contribution plan is a pension plan under which the group pays fxed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold suffcient assets to pay all employees the benefts relating to employee service in the current and prior periods. The Group has no further payment obligations once the contributions have been paid. The contributions are recognised as employee beneft expense when they are due.Defned beneft plansA defned beneft plan is a pension plan that is not a defned contribution plan. The pension accounting costs for the plans are assessed using the projected unit credit method. Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding net interest (not applicable to the Group) and the return on plan assets (excluding net interest), are recognised immediately in the consolidated statement of fnancial position with a corresponding debit or credit to retained earnings through other comprehensive income in the period in which they occur. Re-measurements are not reclassifed to proft or loss in subsequent periods. The maximum economic benefts available, as limited by the asset ceiling will crystallise in the form of reductions in future contributions.Past service costs are recognised in proft or loss on the earlier of:%u2022 The date of the plan amendment or curtailment, and%u2022 The date that the Group recognises restructuring-related costs(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)