72 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2022 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Separate Financial Statements For the year ended March 31, 2022 (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) (2,150,614) 2,811,400 Future salary growth (0.5% movement) 1,016,893 (918,981) 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 $245,025. 14. Investment in Subsidiary 2022 2021 BPW Financial Holdings Inc. – 100% 10,192,600 10,192,600 Allied Co-Operators Inc. – 100% 1,000,000 - $ 11,192,600 10,192,600 15. Other Assets Other assets are comprised of the following: Notes 2022 2021 Accounts receivable $ 13,559,635 10,393,433 Prepaid employee benefit 17 2,018,414 2,139,664 Prepaid expenses 3,466,775 3,791,709 Interest receivable on cash resources - 59 Other Assets re Goodwill Credit Union 26 39,786 39,786 $ 19,084,610 16,364,651
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