Non-Consolidated Annual Report 2020

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2020 54 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Non-consolidated Financial Statements For the year ended March 31, 2020 (Expressed in Barbados dollars) 37 13. Pension Plan Asset, continued h) Sensitivity analysis on projected benefit obligation: 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: Increase Decrease Discount rate (1% movement) (2,209,126) 2,935,854 Future salary growth (0.5% movement) 1,185,562 (1,069,786) As mortality continues to improve, estimates of life expectancy are expected to increase. The effect on the projected benefit obligation of an increase of one year in the life expectancy is approximately $252,992. 14. Investment in Subsidiary 2020 2019 BPW Financial Holdings Inc. – 100% $ 10,192,600 11,500,000 Less: Impairment - (1,307,400) $ 10,192,600 10,192,600 15. Other Assets Other assets are comprised of the following: 2020 2019 Accounts receivable (i) $ 12,053,142 9,176,104 Prepaid employee benefit (Note 17) 2,268,845 3,034,372 Prepaid expenses 2,393,489 1,852,738 Interest receivable on cash resources 23 3,873 Dividend receivable 30,000 60,000 Other Assets re Goodwill Credit Union (Note 26) 39,786 39,786 $ 16,785,285 14,166,873 (i) Included in accounts receivable, is $2,319,084 related to the sale of loans to Capita Financial Services Inc.