Separate Annual Report 2021

67 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2021 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Separate Financial Statements For the year ended March 31, 2021 (Expressed in Barbados dollars) 45 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) (2,587,789) 3,432,179 Future salary growth (0.5% movement) 1,236,337 (1,121,785) 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 $289,828. 14. Investment in Subsidiary 2021 2020 BPW Financial Holdings Inc. – 100% $ 10,192,600 10,192,600 15. Other Assets Other assets are comprised of the following: Notes 2021 2020 Accounts receivable (i) $ 10,393,433 12,053,142 Prepaid employee benefit 17 2,139,664 2,268,845 Prepaid expenses 3,791,709 2,393,489 Interest receivable on cash resources 59 23 Dividend receivable - 30,000 Other Assets re Goodwill Credit Union 26 39,786 39,786 $ 16,364,651 16,785,285 (i) Included in accounts receivable at March 31, 2021 is $Nil (2020: $2,319,084) related to the sale of loans to Capita Financial Services Inc.