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Notes to the Financial Statements 2018
29. Retirement plans continued
June 2018 NZ$M
June 2017 NZ$M
Fletcher Building Group
Movement in recognised net liability Recognised net liability at the beginning of the year
33
(32)
2
Currency translation
2
10
Actuarial movements for the year
44
(5)
Net periodic pension cost Employer contributions Recognised net liability
(10)
10 50
29 33
Assets of the plans Assets of plans at the beginning of the year
827
783
45 13
Actual return on assets
87 32
Total contributions
(117)
Settlement of USA plan Benefit payments Currency translation
(48)
(59) (16)
36
756
827
Assets of the plans consist of: Australasian equities
59
65
310
International equities
311
24
Property
35
262
Bonds
314
63 38
Cash and short-term deposits
55 47
Other assets
756
827
Projected benefit obligation Projected benefit obligation as at the beginning of the year
(793)
(812)
(5)
Service cost Interest cost
(10) (22)
(19)
(2)
Member contributions
(3)
4
Actuarial loss arising on changes in demographic assumptions Actuarial loss arising on changes in financial assumptions Actuarial gain arising on other assumptions – experience adjustments
10
(26)
(5)
(6)
48
Benefit payments
59
117
Settlement of USA plan Currency translation
(39)
17
(694)
(793)
98 Fletcher Building Limited Annual Report 2018
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