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Forest NSW Annual Report 2012

Forests NSW Consolidated Annual Financial Reports Year ended 30 June 2012 ABN 43 141 857 613 Notes to and forming part of the financial statements For the year ended 30 June 2012 Fund information The Pooled Fund holds in trust the investments of the closed NSW public sector superannuation schemes: State Authorities Superannuation Scheme (SASS) State Superannuation Scheme (SSS) State Authorities Non-contributory Superannuation Scheme (SANCS). These schemes are all defined benefit schemes – at least a component of the final benefit is derived from a multiple of member salary and years of membership. All the Schemes are closed to new members. Reconciliation of the present value of the defined benefit obligation SASS SANCS SSS Total Financial Year Financial Year Financial Year A$ Financial Year to 30 June 2011 to 30 June 2011 to 30 June 2011 to 30 June 2011 A$ A$ A$ Present value of partly funded defined benefit 37 965 760 4 131 404 - 42 097 164 obligation at beginning of the year Current service cost 613 724 182 313 - 796 037 Interest cost 1 880 374 202 259 - 2 082 633 Contributions by Fund participants 458 095 - - 458 095 Actuarial (gains)/losses 1 153 799 (81 676) - 1 072 123 Benefits paid (2 487 841) (86 363) - (2 574 204) Past service cost - - - - Curtailments - - - - Settlements - - - - Business Combinations - - - - Exchange rate changes - - - - Present value of partly funded defined benefit 39 583 911 4 347 937 - 43 931 848 obligation at end of the year Reconciliation of the fair value of Fund assets SASS SANCS SSS Total Financial Year Financial Year Financial Year A$ Financial Year to 30 June 2011 to 30 June 2011 to 30 June 2011 to 30 June 2011 A$ A$ A$ Fair value of Fund assets at beginning of the year 33 697 257 3 638 632 - 37 335 889 Expected return on Fund assets 2 798 230 302 454 - 3 100 684 Actuarial gains/(losses) 241 285 685 - 241 970 Employer contributions 945 867 199 066 - 1 144 933 Contributions by Fund participants 458 095 - - 458 095 Benefits paid (2 487 841) (86 363) - (2 574 204) Settlements - - - - Business combinations - - - - Exchange rate changes - - - - Fair value of Fund assets at end of the year 35 652 893 4 054 474 - 39 707 367 82 Forests NSW Annual Report 2011–12 Social, Environmental and Economic Performance


Forest NSW Annual Report 2012
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