| Actuarial assumptions used to determine defined benefit obligations at year-end | 2017 | 2016 | ||||||
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Demographic actuarial assumptions |
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Mortality |
UK mortality table 1) | UK mortality table 1) | ||||||
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Financial actuarial assumptions |
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Discount rate |
2.56% | 2.69% | ||||||
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Price inflation |
3.29% | 3.37% | ||||||
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1 Club Vita tables Scheme memberhsip CMI 2014 1.5%/1.25% p.a.
The principal actuarial assumptions have an effect on the amounts reported for the defined benefit obligation. A change as indicated in the table below in the principal actuarial assumptions would have the following effects on the defined benefit obligation per year-end: |
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Estimated approximate effects on the defined benefit obligation |
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| 2017 | 2016 | |||||||
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Demographic actuarial assumptions |
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10% increase in mortality rates |
(44 | ) | (51 | ) | ||||
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10% decrease in mortality rates |
50 | 58 | ||||||
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Financial actuarial assumptions |
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100 basis points increase in discount rate |
(299 | ) | (371 | ) | ||||
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100 basis points decrease in discount rate |
412 | 513 | ||||||
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100 basis points increase in price inflation |
169 | 213 | ||||||
|
100 basis points decrease in price inflation |
(248 | ) | (289 | ) | ||||