NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) D3 Post-employment benefits (continued) Defined benefit obligation (continued) (a) Actuarial assumptions (continued) Assumptions regarding future mortality have been based on published statistics and mortality tables. The current longevities underlying the values of the defined benefit obligation at the reporting date were as follows: Group 2022 2021 Germany U.S. Germany U.S. Longevity at age 65 for current pensioners: Males 20.6 20.1 20.5 20.0 Females 24.0 22.1 23.9 22.1 Longevity at age 65 for current members aged 45: Males 23.4 21.6 23.2 21.5 Females 26.3 23.6 26.1 23.5 At 31 December 2022, the weighted average duration of the defined benefit obligation was 20.0 years (2021: 24.4 years) for the subsidiaries in Germany and 10.8 years (2021: 13.9 years) for the subsidiary in United States of America. (b) Sensitivity analysis Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below. Group 2022 2021 Increase $’000 Decrease $’000 Increase $’000 Decrease $’000 Discount rate (0.5% movement) (29,516) 34,730 (57,121) 70,520 Future salary growth (0.25% movement) 105 (96) 1,851 (1,621) Future pension growth (0.25% movement) 1,565 (1,512) 2,283 (2,184) Future mortality (10% movement) (9,356) 9,689 (19,921) 24,401 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 221
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