Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 113
SASOL LIMITED GROUP
CONSOLIDATED FINANCIAL STATEMENTS
Areas of judgement:
The determination of long-term provisions, in particular environmental provisions, remains a key area where management’s
judgement is required. Estimating the future cost of these obligations is complex and requires management to make estimates
and judgements because most of the obligations will only be fulfilled in the future and contracts and laws are often not
clear regarding what is required. The resulting provisions could also be influenced by changing technologies and political,
environmental, safety, business and statutory considerations as well as the period in which it will be settled.
It is envisaged that, based on the current information available, any additional liability in excess of the amounts provided will not
have a material adverse effect on the group’s financial position, liquidity or cash flow.
Current
Total
2021
Rm
2020
Rm
2021
Rm
2020
Rm
2021
Rm
2020
Rm
3 238
236
2 778
359
218
21
214
26
3 456
257
2 992
385
3 474
3 137
239
240
3 713
3 377
Foreign – post-retirement
benefit obligation
9 823
11 554
258
265
10 081
11 819
Total post-retirement
benefit obligations
13 297
14 691
497
505
13 794
15 196
–
–
(46)
–
–
(545)
–
–
(591)
258
265
Note
35 Post-retirement
benefit obligations
Post-retirement healthcare
obligations
35.1
South Africa
United States of America
Pension assets
35.2
35.2
South Africa – post-retirement
benefit asset
Foreign – post-retirement
benefit asset
(545)
Total post-retirement
benefit assets
(591)
(46)
Net pension obligations
9 232
(467)
–
(467)
11 087
Loss/(gain) recognised in the income
statement
for the year ended 30 June
9 490
(467)
–
(467)
11 352
Loss/(gain) recognised in other
comprehensive income
Note
2021
Rm
2020
Rm
2019
Rm
2021
Rm
2020
Rm
2019
Rm
35.1
407
467
485
201
(1 040)
(460)
35.2
7 248
7 073
6 371
5 715
(6 921)
1 360
35.2
(5 758)
(5 238)
(4 815)
(7 419)
7 507
Post-retirement benefit
obligations
Post-retirement healthcare
obligations
Pension benefits – projected
benefit obligation
Pension benefits – plan asset
of funded obligation
Net movement on asset
limitation and reimbursive
right
–
–
–
1 897
2 302
2 041
(514)
669
601
145
(834)
147
531
The group provides post-retirement medical and pension benefits to certain of its retirees, principally in South Africa, Europe and the
United States of America. Generally, medical cover provides for a specified percentage of most medical expenses, subject to pre-set
rules and maximum amounts. Pension benefits are payable in the form of retirement, disability and surviving dependent pensions.
The medical benefits are unfunded. The pension benefits in South Africa are funded. In the United States of America certain of our
Pension Funds are funded.
111
Sasol Annual Financial Statements 2021
SASOL LIMITED COMPANY
Pension obligations
OTHER
for the year ended 30 June
NOTES TO THE FINANCIAL STATEMENTS
Non-current