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Retirement Benefit Obligation (Tables)
 12 Months Ended
Jun. 30, 2019
Employee Benefits [Abstract]  
Disclosure of Unfunded Obligations and Net Liability of Defined Benefit Plan
 
SA rand
Figures in million
2019

2018

 
 
 
Present value of all unfunded obligations
201

186

 
 
 
Current employees
54

62

Retired employees
147

124

 
 
 
 
 
 
The movement in the retirement benefit obligation is as follows:
 
 
 
 
 
Balance at beginning of year
186

179

Contributions paid
(12
)
(10
)
Other expenses included in staff costs/current service cost
3

2

Finance costs
17

18

Net actuarial (gain)/loss recognised during the year
7

(13
)
Moab Khotsong acquisition (refer to note 12)
—

10

 
 
 
Balance at end of year
201

186



The net actuarial loss for 2019 was mainly due to subsidy inflation being higher than expected (2018: net actuarial gain was mainly due to exits of employed and retired members being higher than expected). The net actuarial (gain)/loss has been recorded in other comprehensive income.
 
SA rand
Figures in million
2019

2018

 
 
 
The net liability of the defined benefit plan is as follows:
 
 
 
 
 
Present value of defined benefit obligation
201

186

Fair value of plan assets
—

—

 
 
 
Net liability of defined benefit plan
201

186
Disclosure of the Effect of a Percentage Point Increase and Decrease in the Assumed Medical Cost Trend Rate
The effect of a percentage point increase and decrease in the assumed medical cost trend rate is as follows:
 
SA rand
Figures in million
2019

2018

 
 
 
Effect of a 1% increase on:
 
 
 
 
 
Aggregate of service cost and finance costs
2

2

Defined benefit obligation
23

21

 
 
 
 
 
 
Effect of a 1% decrease on:
 
 
 
 
 
Aggregate of service cost and finance costs
(2
)
(2
)
Defined benefit obligation
(19
)
(18
)