Financial Report 2020

87 The University of Hong Kong 香港大學 Notes to the Consolidated Financial Statements 合併財務報表附註 附註：－續 a. 職工服務規例第三類僱員退休金計劃－續 重要的精算假定和敏感性分析 下表總結了截至二零二零年六月三十日 及二零一九年六月三十日界定福利責任 的敏感性分析的結果，以重要的精算假 定在合理可能變動上為基礎。 上述變化的假定只是用於說明目的，並 不表示它們在任何情況下指示最大範圍 的變化的可能。 此外，利用上述靈敏度的結果來估計不 同的變化的參數效果所帶來的影響（以 上引述除外）可能不適當。 資金安排和政策說明 福利的費用由大學資助。本大學的供款 是參照計劃的精算師根據條例的要求而 作出的資金估值。本計劃上一次的資金 估值已在二零一九年六月三十日進行。 預計供款 根據本計劃之財政狀況及資產償還比 率，大學採納精算師之建議並從二零零 八年一月一日至二零二二年六月三十日 暫緩對信託資產作出之每月供款。因此 大學預計在下年度將毋需供款（二零 一九年為零元）。 22. DEFINED BENEFIT RETIREMENT SCHEME ASSETS – Cont’d 界定退休金計劃資產 － 續 Notes: – Cont’d a. Terms of Service III Staff Retirement Scheme – Cont’d Significant actuarial assumptions and sensitivity analysis The following table summarises the results of sensitivity analysis on the DBO as at 30 June 2020 and 30 June 2019, based on reasonably possible changes in significant actuarial assumptions. Assumption Adopted rate Change to adopted rate Rate used in sensitivity analysis Effect on DBO Effect on DBO 假定 採用比率 採用比率之變動 用於敏感性分析的比率 界定福利責任的影響 界定福利責任的影響 % % HK$000 % 港幣千元 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate 0.30% 1.50% + 0.25% 0.55% 1.75% (107) (144) (0.5%) (0.5%) 貼現率 – 0.25% 0.05% 1.25% 110 146 0.5% 0.5% Long-term salary increase rate 3.50% 3.50% + 0.25% 3.75% 3.75% 106 143 0.5% 0.5% 長線的加薪幅度 – 0.25% 3.25% 3.25% (104) (141) (0.5%) (0.5%) The variations to the assumptions above are for illustration purpose only, and they are not in any case an indication of the maximum range of variations that may be exhibited by those parameters. Furthermore, interpolation and extrapolation of the above sensitivity results to estimate the effect of different variations to the parameters (other than those quoted above) may not be appropriate. Description of funding arrangements and policies The costs of benefits are funded by the University. The University’s contributions are determined with reference to the funding valuation carried out by the Scheme’s Actuary in accordance with the ORSO requirements. The last funding valuation of the Scheme was carried out as at 30 June 2019. Expected contributions Due to the Scheme’s financial position and solvency level, the University has adopted the Scheme Actuary’s recommendation and continued a “contribution holiday” effective from 1 January 2008 until 30 June 2022. Hence the expected employer contributions by the University for the year 2020-21 are nil (2019: nil). Notes to the Consolidated Financial Statements 合併財務報表附註 2020 Financial Report 二零二零財務報告 88 附註：－續 a. 職工服務規例第三類僱員退休金計劃－續 界定福利責任的到期日 截至二零二零年六月三十日界定福利責 任的加權平均期限為二年（二零一九年為 二點一年）。 為了進一步說明到期日的界定福利責 任，下表根據採用精算的假設，列出了 本計劃預期福利的支出（包括應佔估計 未來員工服務年資和工資）： b. 香 港 大 學 僱 員 退 職 公 積 金 計 劃 （一九八八）（「 STBS 」） STBS 已於一九九五年九月三十日作出 修訂，成為能自動調節負債之計劃。當 中的負債能自動相等於資產，與界定供 款計劃相似。該修訂把大學的承擔限於 總保證數額（即各成員於一九九五年十 月前正常離職之利益）與最低保證利益 總額（即各成員之最低保證利益，相等 於 0.77x 最後月薪 x 一九九五年十月一日 後退休金年資）之總和。除非退休金資 產之市場價值低於其負債，否則大學無 須為 STBS 注入額外資金。 STBS 乃由大學及成員就有關成員的底 薪分別作出固定百分比的供款。委任的 精算師韜睿惠悅香港有限公司於二零二 零年六月三十日在其獨立精算審核報告 內指出，若 STBS 全體在職成員於精算 估價值當日離職，退休金資產足以按其 規條支付所有成員所應享的離職福利。 截至二零二零年六月三十日止，資產淨 值為二億九千六百萬元（二零一九年為 三億五千八百萬元），足夠應付二千三百 萬元（二零一九年為三千四百萬元）的總 保證數額及五千七百萬元（二零一九年 為七千萬元）的最低保證利益總額。 22. DEFINED BENEFIT RETIREMENT SCHEME ASSETS – Cont’d 界定退休金計劃資產 － 續 Notes: – Cont’d a. Terms of Service III Staff Retirement Scheme – Cont’d Maturity profile of DBO The weighted average duration of the DBO as at 30 June 2020 is 2 years (2019: 2.1 years). To further illustrate the maturity profile of the DBO, the following table sets out the expected benefit payments (including benefits attributable to estimated future employee service and salary) from the Scheme based on the adopted actuarial assumptions: Number of years after valuation date Expected benefit payments 估值日之後的年數 預計福利支出 HK$000 港幣千元 1 8,734 2 3,217 3 5,930 4 767 5 2,306 6 to 10 950 11 years and over 866 b. The University of Hong Kong Staff Terminal Benefits Scheme (1988) (the “STBS”) The STBS was restructured on 30 September 1995 whereby it became “self-balancing”. Over time, liabilities would automatically equal assets, much akin to a defined contribution retirement scheme. The restructuring has limited the University’s liability to the sum of Aggregate Guaranteed Amounts (i.e. pre- October 1995 benefits) and Aggregate Minimum Amounts (i.e. the sum of each member’s Minimum Amount, which is an amount equal to final month’s salary x 0.77 x years of superannuable service from 1 October 1995). No additional cash injection to the STBS by the University is required unless the market value of the fund assets is lower than such liability. The STBS is funded by contributions from the University and members at fixed percentages of members’ basic salaries. An actuarial valuation was undertaken at 30 June 2020 by Towers Watson Hong Kong Limited, the appointed Actuary to the STBS. The valuation indicated that the assets of the STBS at the valuation date were sufficient to provide all members in service with the leaving service benefits to which they would have been entitled under the Rules of the STBS had employment been terminated at the valuation date. As at 30 June 2020, the net assets amounting to $296 million (2019: $358 million) were sufficient to cover the Aggregate Guaranteed Amounts and the Aggregate Minimum Amounts of $23 million (2019: $34 million) and $57 million (2019: $70 million) respectively.