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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2021 103GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2021(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)8. Employee benefits (continued)The major categories of plan assets as a percentage of the fair value of total plan assets are as follows:2021 2020Local equities %u2013 quoted 32% 29%Local bonds 31% 36%Foreign investments 23% 23%Real estate and mortgages 2% 2%Short-term securities 12% 10%Principal actuarial assumptions at the reporting date:2021 2020Discount rate at 31 December 5% 5%Future salary increases 3% 3%Future medical claims inflation 3% 3%Shown below is a quantitative sensitivity analysis for the impact of significant assumptions on the defined benefit obligation:Assumptions Discount rateFuture salaryincreasesFuture medicalclaims inflation1% 1% 1% 1% 1% 1%Sensitivity level increase decrease increase decrease increase decreaseAt 31 December 2021 (13,984) 17,418 4,131 (3,661) 620 (504)At 31 December 2020 (14,293) 17,865 4,374 (3,868) 635 (514)