Page 203 - TSMC 2018 Annual Report

Movements in the present value of the defined benefit obligation were as follows:
Balance, beginning of year Current service cost Interest expense Remeasurement:
Actuarial loss arising from experience adjustments Actuarial loss (gain) arising from changes in financial
assumptions
Benefits paid from plan assets Benefits paid directly by the Company
Balance, end of year
Movements in the fair value of the plan assets were as follows:
Balance, beginning of year Interest income Remeasurement:
Return on plan assets (excluding amounts included in net interest expense)
Contributions from employer Benefits paid from plan assets
$
$
$
2018
12,774,593 137,758 207,804
334,630
597,820 (274,326) (115,595)
13,662,684
$
$
2017
12,480,480 145,026 185,561
483,846
(258,455) (261,865)
- 12,774,593
Years Ended December 31
Years Ended December 31
2018
3,923,889 63,696
71,288 226,732
December 31, December 31,
(274,326) 4,011,279
(261,865) 3,923,889
$
2017
3,929,072 59,036
(29,290) 226,936
Balance, end of year
The fair value of the plan assets by major categories at the end of reporting period was as follows:
$
$
Cash $ Equity instruments
Debt instruments
$
2018
756,126 $ 2,148,040 1,107,113
2017
707,477 1,993,336 1,223,076
3,923,889
4,011,279
$
The actuarial valuations of the present value of the defined benefit obligation were carried out by qualified actuaries. The principal assumptions of the actuarial valuation were as follows:
Discount rate
Future salary increase rate
December 31, 2018
1.30% 3.00%
December 31, 2017
1.65% 3.00%
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Measurement Date