Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 115
7,5
7,5
11,6
11,1
5,2
5,5
13,3
12,2
6,1
5,5
13 years
14 years
12 years
12 years
2021
%
2020
%
2021
%
2020
%
n/a*
n/a*
n/a
n/a
2,7
2,0
n/a**
4,2
2,3
2,2
n/a**
4,2
n/a
1,2
1,8
2,8
n/a
1,4
1,8
2,8
11 years
n/a
n/a
14 years
18 years
18 years
12 years
7 years***
Assumptions regarding future mortality are based on published statistics and mortality tables.
*
The healthcare cost inflation rate in respect of the plans for the United States of America is capped. All additional future increases due to the
healthcare cost inflation will be borne by the participants.
** There are no automatic pension increases for the United States of America pension plan.
*** The decrease in 2021 is as a result of the large number of employees transferring to the Louisiana Integrated Polyethylene Joint Venture.
Refer to note 23.
Post-retirement healthcare obligations
In South Africa, certain healthcare and life assurance benefits are provided to South African employees hired prior to 1 January 1998,
who retire and satisfy the necessary requirements of the medical fund.
Reconciliation of the total post-retirement healthcare obligation recognised in the statement of financial position
South Africa
for the year ended 30 June
Total post-retirement healthcare
obligation at beginning of year
Movements recognised in the
income statement:
current service cost
interest cost
curtailments and settlements
Actuarial (gains)/losses recognised in
other comprehensive income:
arising from changes in financial
assumptions
arising from changes in
demographic assumptions
arising from changes in actuarial
experience
2020
Rm
2021
Rm
2020
Rm
2021
Rm
2020
Rm
2 992
3 825
385
268
3 377
4 093
413
440
(6)
27
407
467
26
387
–
45
395
–
18
7
(31)
18
9
–
44
394
(31)
63
404
–
237
(1 085)
(36)
45
201
(1 040)
539
(1 026)
(12)
44
527
(982)
–
–
(3)
–
(3)
(302)
(59)
(24)
4
(326)
(55)
(186)
(180)
(23)
(22)
(209)
(202)
(8)
–
–
(63)
–
67
–
(63)
(8)
67
–
–
Total post-retirement healthcare
obligation at end of year
Total
2021
Rm
–
Benefits paid
Transfer to disposal groups held for
sale
Translation of foreign operations
United States of America
3 456
2 992
257
385
3 713
3 377
OTHER
35.1
SASOL LIMITED GROUP
CONSOLIDATED FINANCIAL STATEMENTS
2020
%
Europe
NOTES TO THE FINANCIAL STATEMENTS
2021
%
at valuation date
Healthcare cost inflation
Discount rate – post-retirement
medical benefits
Discount rate – pension benefits
Pension increase assumption
Average salary increases
Weighted average duration of the
obligation – post-retirement medical
obligation
Weighted average duration of the
obligation – pension obligation
United States of America
SASOL LIMITED COMPANY
South Africa
113
Sasol Annual Financial Statements 2021