NOTE 26
NON-CURRENT LIABILITIES – PROVISIONS
Consolidated
2013
$’000
2012
$’000
Employee benefits - long service leave
6,032
4,236
6,032
4,236
NOTE 27
NON-CURRENT LIABILITIES – DEFINED BENEFIT PLANS
(a) Superannuation plan
On commencement on 5 September 2004 of the 60 year lease with the NSW Government to operate the NSW
interstate main lines, the Hunter Valley rail corridor and dedicated metropolitan freight lines to the Sydney Ports,
employees previously employed by RIC/SRA and now currently employed by ARTC are members of the following
defined benefit funds:
•
•
State Authorities Superannuation Scheme (SASS)
•
•
State Superannuation Scheme (SSS)
•
•
State Authorities Non Contributory Superannuation Scheme (SANCS)
All the Schemes are closed to new members.
The following sets out details in respect of the defined benefit section. The expense recognised in relation to the
defined contribution plan is disclosed in note 4.
(b) Consolidated Balance Sheet amounts
The amounts recognised in the Consolidated Balance Sheet are determined as follows:
Consolidated
2013
$’000
2012
$’000
Present value of the defined benefit obligation
33,264
33,435
Fair value of defined benefit plan assets
(25,141)
(22,232)
Net liability/(asset) in the Consolidated Balance Sheet
8,123
11,203
87
