ANNUAL REPORT 2025 171 NOTES TO THE FINANCIAL STATEMENTS 23 Pension assets Group 2025 2024 HK$’000 HK$’000 Defi ned benefi t plans Pension assets 322,551 276,475 The Group operates a number of defi ned benefi t and defi ned contribution plans, the assets of which are held independently of the Group’s assets in trustee administered funds. (a) Defi ned benefi t plans The Group’s defi ned benefi t plans in Hong Kong are a contributory fi nal salary pension plan and a noncontributory guaranteed return defi ned contribution plan. The Group’s plans were valued by Towers Watson Hong Kong Limited, qualifi ed actuaries at 31 December 2025 and 31 December 2024 using the projected unit credit method to account for the pension accounting costs in accordance with HKAS 19 (2011) “Employee Benefi ts”. The principal actuarial assumptions used for accounting purposes are as follows: 2025 2024 Percentage Percentage Discount rate 2.40-2.50% 3.10% Future salary increases 3.50% 3.50% Interest credited on plan accounts 5.00-6.00% 5.00-6.00% The amounts recognised in the consolidated statement of fi nancial position are determined as follows: 2025 2024 HK$’000 HK$’000 Fair value of plan assets 1,400,290 1,377,062 Present value of defi ned benefi t obligations (1,077,739) (1,100,587) Net defi ned benefi t assets 322,551 276,475
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