b'A N N U A L R E P O R T 2 0 1 7 - 2 0 1 8NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 2018(Expressed in Trinidad and Tobago Dollars)16.Post-employment benefit (continued)20182017$000$000Re-measurements recognised in other comprehensive income Experience gains(22,894)(22,154)Effect of asset ceiling Total amount recognised in other comprehensive income(22,894)(22,154)Reconciliation of opening and closing statement of financial position entriesOpening defined benefit liability11,13419,812Net pension cost21,40124,892Re-measurements recognised in other comprehensive income(22,894)(22,154)Board contributions paid(16,177) (11,416)Closing defined benefit liability (6,536)11,13420182017Discount rate5.5%5.5%General salary increases4.0%4.0%Salary increases due to age, merit and promotion1.0%1.0%Total individual salary increases5.0%5.0%Future pension increases3.0%3.0%Life expectancy at age 60 for current pensioner in years -Male21.021.0-Female25.125.1Life expectancy at age 60 for current members age 40 in years-Male21.421.4-Female25.425.4Sensitivity analysis1%pa lower1%pa higher$000$000Discount rate 162,885(127,276)Future salary increases(29,229)33,840Future pension increases(98,746)119,518An increase of one year in the assumed life expectancies shown above would increase the defined benefit obligation at 30 June 2018 by $22.7 million. These sensitivities were calculated by recalculating the defined benefit obligations using the revised assumptions. Funding The Board meets the balance of the cost of funding the defined benefit Pension Plan and the Board must pay contributions at least equal to those paid by members, which are fixed. The funding requirements are based on regular (at least every 3 years) actuarial valuations of the Plan and the assumptions used to determine the funding required may differ from those set out above. The Board expects to pay contributions of $11.5 million to the Pension Plan during 2018/19. This increase is based on the completion of the negotiations for the outstanding period.60'