Page 137 - TGIA_AnnualReport2013

Change in Current Value of Staff Welfare Obligations

Baht

2013 2012
For the year ended on December 31
Staff welfare obligations as on January 1 4,308,134.00 3,727,729.00
Current Service Cost and Interest 583,579.00 580,405.00
Staff welfare obligations as on December 31 4,891,713.00 4,308,134.00

Costs recognized in income statement is higher than expenses

Baht
2013 2012
For the year ended on December 31
Current Service Cost 421,603.00 434,897.00
Interest from obligations 161,976.00 145,508.00

Total 583,579.00 580,405.00

Costs recognized in income statement is higher than expenses above shown as follows

Baht
2013 2012
For the year ended on December 31

Administrative Costs 583,579.00 580,405.00

Main assumption in actuarial projection on the date of reporting

For the year ended on December 31, 2012 and 2011

Discount rate 4.10% / Year
Rate of Salary Increase 7%
Staff Turnover Rate In variable to employment period or 0-19%
Mortality rate Thai Mortality Table 1997

Classified by Male and Female

สมาคมประกันวินาศภัยไทย | Thai General Insurance Association 135