Constance Hotels Services Limited | Annual Report 2025

203 ANNUAL REPORT 2025

Notes to the Financial Statements Year ended December 31, 2025

Notes to the Financial Statements Year ended December 31, 2025

18. EMPLOYEE BENEFIT LIABILITIES

18. EMPLOYEE BENEFIT LIABILITIES (CONT’D)

(a) Defined pension benefits (cont’d)

THE GROUP 2025

2024

The reconciliation of the opening balances to the closing balances for the net defined benefit liability is as follows:

MUR’000

MUR’000

Amounts recognised in the statement of financial position: Defined pension benefits (Note (a)(ii))

THE GROUP 2025

525,337 144,983 14,659 684,979

472,468 109,159 25,221 606,848

2024

Other post retirement benefits (Note (b)(i)) Other long term benefits (Note (c)(i))

MUR’000 472,468

MUR’000

At January 1,

398,853 54,400 69,558 (50,343) 472,468

59,496 30,638

Charged to profit or loss

Analysed as follows: Non-current liabilities

Charged to other comprehensive income

684,979

606,848

(37,265) 525,337

Contributions paid At December 31,

Amounts charged to profit or loss: - Defined pension benefits (Note (a)(v))

59,496 17,397

54,400 15,885 25,221 95,506

(iii) The movement in the defined benefit obligations over the year is as follows:

- Other post retirement benefits (Note (b)(ii)(a)) - Other long term benefits (Note (c)(ii)(a))

5,450

THE GROUP 2025

82,343

2024

MUR’000 789,265

MUR’000

Amounts charged/(credited) to other comprehensive income: - Defined pension benefits (Note (a)(vi))

At January 1,

671,024 31,687 33,283

30,638 18,466

69,558 (6,322)

33,798 38,156

Current service cost Interest expense Remeasurements: - Actuarial losses

- Other post retirement benefits (Note (b)(ii)) - Other long term benefits (Note (c)(ii))

(16,012)

-

33,092

63,236

37,347

71,923

(17,409) 881,157

Benefits paid

(18,652) 789,265

(a) Defined pension benefits

At December 31,

(i) The Group contributes to a defined benefit pension. The plan is a final salary plan, which provides benefits to members in the form of pension at retirement and a benefit on death or disablement in service before retirement. The level of benefits provided depends on members’ length of service and their salary in the final years leading up to retirement.

(iv) The movement in the fair value of plan assets of the year is as follows:

THE GROUP 2025

The assets of the fund are held independently and administered by an insurance company.

2024

MUR’000 316,797

MUR’000

The most recent actuarial valuation of the plan assets and the present value of the defined benefit obligations were carried out at December 31, 2025 by Swan Life Ltd. The present value of the defined benefit obligations, and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

At January 1,

272,171

Remeasurements: - Return on plan assets

15,903

14,410

(ii) The amounts recognised in the statement of financial position are as follows:

6,709

- Actuarial gains Scheme expenses

2,365

(1,441) (2,004) 37,265 (17,409) 355,820

(1,965) (1,875) 50,343 (18,652) 316,797

THE GROUP 2025

Cost of insuring risk benefits Contributions by the employer

2024

MUR’000 881,157 (355,820) 525,337

MUR’000 789,265 (316,797) 472,468

Benefits paid

Present value of funded obligations

At December 31,

Fair value of plan assets

Liability in the statement of financial position