77 / 116
Consolidated
2016
Consolidated
2015
The major category
of plan assets are as
follows:
Quoted
$m
Un-
quoted
$m
Total
$m
Quoted
$m
Un-
quoted
$m
Total
$m
Equity instruments
18,198 3,617 21,815
19,862 3,656 23,518
Property
1,113 2,537 3,650
949 2,504 3,453
Short term securities
2,044
6 2,050
96 2,546 2,642
Fixed interest securities
1 3,554 3,555
1 3,659 3,660
Other assets
471 6,645 7,116
622 6,548 7,170
21,827 16,359 38,186
21,530 18,913 40,443
Consolidated
2016
%
2015
%
Equity instruments
57
58
Property
10
9
Short term securities
5
6
Fixed interest securities
9
9
Other assets
19
18
100
100
(iv) Actuarial assumptions and sensitivity
Actuarial assessment undertaken by Mercer as at 30 June 2016 contains the following significant
independent actuarial assumptions (expressed as weighted averages):
Consolidated
2016
2015
Discount rate
3.6%
4.6%
Rate of CPI increase
2.4%
2.5%
Future salary increases
3.1%
3.1%
The sensitivity of the total defined benefit obligation as at 30 June 2016 under several scenarios is
shown below.
Scenarios related to changes to the discount rate, salary growth rate and rate of CPI increase relate
to sensitivity of the total defined benefit obligation to economic assumptions, and scenarios related
to pensioner mortality relate to sensitivity to demographic assumptions. The assumption as to the
expected rate of return on assets is determined by weighing the expected long term return for each
asset class by the target allocation of assets to each class. The returns used for each class are net
of investment tax and investment fees.
NOTE 8 (CONTINUED)
NON-FINANCIAL ASSETS AND LIABILITIES
75