- 67 - Actuarial assumptions The principal actuarial assumptions as at December 31, 2021 and 2020 (expressed as weighted-averages) were as follows: Unit: % Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Discount rate 0.4 - 6.5 0.5 - 1.7 1.9 1.5 Future salary growth 1.5 - 7.0 2.5 - 7.0 6.0 6.0 Employee turnover 0.0 - 50.0 0.0 - 50.0 0.0 - 3.0 0.0 - 3.0 Retirement age 55 - 67 years 55 - 65 years 60 years 60 years Assumptions regarding future mortality have been based on published statistics and mortality tables. As at December 31, 2021, the weighted-average duration of the defined benefit obligation was 10 years (2020: 10 years). Sensitivity analysis Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below: Unit : Million Baht Consolidated financial statements Separate financial statements Increase Decrease Increase Decrease As at December 31, 2021 Discount rate (1% movement) (1,546) 1,887 (453) 535 Future salary growth (1% movement) 1,094 (950) 497 (428) As at December 31, 2020 Discount rate (1% movement) (715) 820 (478) 567 Future salary growth (1% movement) 735 (628) 481 (415) Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown. Plan asset The major categories and fair value of plan assets at the end of the reporting period for each category were as follows: Unit : Million Baht Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Equity Securities 383 - - - Government and Corporate Bonds 309 - - - Property 52 - - - Others 2,448 - - - Total 3,192 - - - 299 BUSINESS OPERATION AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL REPORTS AND FINANCIAL STATEMENTS APPENDIX
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