Page 127 - Demo

ANNUAL REPORT 2024 125GUARDIAN 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)The major categories of plan assets as a percentage of the fair value of total plan assets are as follows:2024 2023Local equities %u2013 quoted 26% 32%Local bonds 38% 32%Foreign investments 33% 29%Real estate and mortgages 1% 2%Short term securities 2% 5%Principal actuarial assumptions at the reporting date:2024 2023Discount rate at 31 December 6% 6%Future salary increases 3% 4%Future medical claims inflation 2% 3%Shown below is a quantitative sensitivity analysis for the impact of significant assumptions on the defined benefit obligation:The sensitivity analyses above have been determined based on a method that extrapolates the impact on net defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period.Assumptions Discount rateFuture salary increasesFuture medical claims inflationSensitivity level1% increase1% decrease1% increase1% decrease1% increase1% decreaseAt 31 December 2024 (11,169) 13,695 3,177 (2,842) 672 (554)At 31 December 2023 (11,999) 14,800 3,599 (3,206) 539 (443)