84 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2026 (expressed in Barbados dollars) 52 15 Pension Plan Asset …continued 3) Changes in the present value of the obligation for defined benefit pension plans were as follows: …continued ii) Plan assets consist of the following: 2026 $ 2025 $ Equities 10,198,870 9,559,592 Bonds 10,658,405 9,896,470 Other 146,747 (1,365) 21,004,022 19,454,697 The assets of the plan are invested in segregated funds. The major asset categories underlying the plan assets are as follows: 2026 2025 Mortgages 15.25% 16.79% Bonds 32.78% 32.94% Equities 43.86% 43.17% Property 4.09% 4.07% Other 4.02% 3.03% 4) The amounts recognised in the consolidated statement of income are as follows: Note 2026 $ 2025 $ Current service cost 767,464 699,239 Interest cost on obligation 1,392,798 1,294,216 Expected return on plan assets (1,623,726) (1,535,033) Administrative expenses 26,833 24,651 Net pension expense included in staff costs 5 563,369 483,073 5) The amounts recognised in other comprehensive income are as follows: 2026 $ 2025 $ Remeasurement loss on obligation 1,343,291 (547,475) Remeasurement loss on plan assets 528,071 1,034,343 1,871,362 486,868
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