Page 210 - KWAP_AR2022

208 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) FoR BEttER REtURNS

notes to the
financial statements
for the year ended 31 december 2022

32. EMPLOYEE BENEFITS (CONTINUED)
(b) the amounts recognised in the statement of financial position were analysed as follows:

Group and KWAP
31 December 31 December
2022 2021

Net Liabilities As At 1 January 4,429 3,875
total post-retirement costs recognised in the statements
of comprehensive income and other comprehensive income 619 562
benefits paid (36) (8)
Net Liabilities As At 31 December 5,012 4,429

(c) the amounts recognised in the statement of comprehensive income were analysed as follows:

Group and KWAP
31 December 31 December
2022 2021

current service cost 417 410
interest cost 203 178
adjustments during the year (1) (26)
Total Post-Retirement Costs Recognised In The Statement
Of Comprehensive Income And Other Comprehensive Income 619 562

(d) the principal actuarial assumptions employed were as follows:

Group and KWAP
31 December 31 December
2022 2021
discount rate (%) 4.6% 4.6%
medical cost inflation (%)
general practitioner (gp) 3.0% 3.0%
hospitalization (hp) 3.0% 3.0%
specialist (sp) 3.0% 3.0%
dialysis (dl) 0.0% 0.0%

the provision of post-employment medical benefits is based on the net present Value (npV), representing
the present value of the estimated future cash outflows required to settle the post-retirement medical benefit
obligations. the npV amount is discounted at the expected money market rate of 4.60% (2021: 4.60%) on the
basis that the underlying instrument is naturally considered to be conservative and liquid for the group and KWap.