Annual Report 2019

204 Transport International Holdings Limited 2019 Annual Report Notes to the Financial Statements (Expressed in Hong Kong dollars unless otherwise indicated) 19 Employee retirement benefits (continued) (f) Significant actuarial assumptions and sensitivity analysis are as follows: 2019 2018 Discount rate – Monthly Rated Employees Scheme 1.8% 2.0% – Daily Rated Employees Scheme 1.8% 1.9% Future salary increases 4.5% 4.5% The below analysis shows how the defined benefit obligation would have increased/(decreased) as a result of a 0.25 percentage point change in the significant actuarial assumptions: 2019 2018 Increase in 0.25 percentage point Decrease in 0.25 percentage point Increase in 0.25 percentage point Decrease in 0.25 percentage point $’ 000 $’ 000 $’ 000 $’ 000 Discount rate (30,106) 31,013 (33,212) 34,230 Future salary increases 27,547 (26,904) 30,499 (29,769) The above sensitivity analysis is based on the assumption that changes in actuarial assumptions are not correlated and therefore it does not take into account the correlations between the actuarial assumptions.