Page 125 - Demo

ANNUAL REPORT 2024 123GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2024(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)8. Employee benefits (continued)2024 changes in the defined benefit obligation and fair value of plan assets:Defined benefit obligationFair value of plan assetsNet benefit assetEmployee benefit obligation$ $ $ $Balance at 1 January 2024 122,680 (229,808) (107,128) 5,451Pension cost charged to profit or lossCurrent service cost 2,512 %u2013 2,512 193Administrative expenses %u2013 225 225 %u2013Net interest 7,245 (13,632) (6,387) 315Sub-total included inprofit or loss 9,757 (13,407) (3,650) 508Re%u2013measurement (gains)/lossesin OCIExperience adjustments (5,055) 14,964 9,909 1,706Transfers (27) 27 %u2013 (2)Sub-total included in OCI (5,082) 14,991 9,909 1,704Other movementsContributions by employee 1,162 (1,162) %u2013 %u2013Contributions by employer %u2013 (1,162) (1,162) %u2013Benefits paid (7,487) 7,487 %u2013 (578)Sub-total %u2013 other movements (6,325) 5,163 (1,162) (578)Balance at 31 December 2024 121,030 (223,061) (102,031) 7,085