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ANNUAL REPORT 2023 111GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2023(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)8. Employee benefits (continued)The pension plan is maintained at a significant surplus; the Group has chosen not to take any contribution holidays to ensure the continued health of the Plan in changing economic circumstances. The Group%u2019s contribution rate of 4% of pensionable salaries will continue into the foreseeable future. The Group is expected to contribute $1.1 million to its defined benefit plans and $0.5 million to its post-employment benefit plans in 2024.The weighted average duration of the defined benefit obligation at the end of the reporting period is 20 years (2022: 15 years) for the defined benefit plan and 11 years (2022: 14 years) for the postretirement medical plan.9. Deferred taxation2022(Credit)/ charge to income(Credit)/ charge to OCIForeign exchange difference 2023Deferred tax assetEmployee benefits obligation (1,719) (12) 98 %u2013 (1,633)Leases (101) (46) %u2013 %u2013 (147)Provisions (181) 134 %u2013 %u2013 (47)Tax loss (518) (3,156) %u2013 %u2013 (3,674) (2,519) (3,080) 98 %u2013 (5,501)Deferred tax liabilitiesProperty, plant and equipment/Investment property 1,721 (324) %u2013 %u2013 1,397Intangible assets 668 %u2013 %u2013 %u2013 668Print equipment 6,933 (675) %u2013 %u2013 6,258Employee benefits asset 32,257 1,059 (1,180) %u2013 32,136 41,579 60 (1,180) %u2013 40,459Net deferred tax credit (3,020) (1,082) %u2013