Eastern Caribbean Central Bank 2024-2025 Annual Report

Eastern Caribbean Central Bank Notes to the Financial Statements For the year ended 31 March 2025 (Expressed in Eastern Caribbean dollars)

22. Pension asset (continued)

2025 $

2024 $

Movement in present value of defined benefit obligation over the year is as follows: Beginning of year

105,043,000 4,420,000 7,689,000

96,758,000 3,776,000 7,112,000 764,000 1,925,000 (404,000) (4,888,000)

Current service cost

Interest cost

895,000

Contributions by plan participants

-

Past service cost

10,860,000 (5,134,000)

Experience adjustments

Benefits paid

Defined benefit obligation at end of year

123,773,000

105,043,000

The defined benefit obligation is allocated between the Plan’s members as follows:

2025

2024

%

%

64

Active members Deferred members

64

-

-

36

Pensioners

34

The weighted average duration of the defined benefit obligation at the year end

13.4 years

13.4 years

96% of the benefits for active members are vested. 32% of the defined benefit obligation for active members is conditional on future salary increases. 2025 2024 $ $ Movement in fair value of plan assets over the year Plan assets at start of year 142,514,000 127,734,000 Interest income 10,653,000 9,531,000 Return on plan assets, excluding interest income (1,485,000) 6,571,000 Bank’s contributions 3,581,000 3,056,000 Members’ contributions 895,000 764,000 Benefits paid (5,134,000) (4,888,000) Expense allowance (297,000) (254,000) Fair value of plan assets at end of year 150,727,000 142,514,000

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