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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2018(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)7. Employee benefts (continued)The major categories of plan assets as a percentage of the fair value of total plan assets are as follows:2018 2017Local equities %u2013 quoted 31% 32%Local bonds 39% 40%Foreign investments 23% 21%Real estate and mortgages 2% 2%Short term securities 5% 5%Principal actuarial assumptions at the reporting date:2018 2017Discount rate at 31 December 5% 5%Future salary increases 3% 3%Future medical claims infation 3% 3%Shown below is a quantitative sensitivity analysis for the impact of signifcant assumptions on the defned beneft obligation:Assumptions Discount rateFuture salary increasesFuture medical claims infationSensitivity level1% increase1% decrease1% increase1% decrease1% increase1% decreaseAt 31 December 2018 (13,963) 17,566 4,598 (4,057) 606 (491)At 31 December 2017 (13,713) 17,246 4,737 (4,180) 433 (360)FINANCIAL REPORT 85