For year N, the actuary of Hauvel SA attributes to services rendered during the year a benefit of 1,600,000, payable in 15 years to plan members (case data). The discount rate set at the start of the year was 3.2 %; the rate at the reporting date is 3.9 %. No plan amendment, curtailment or settlement occurred during the year. Calculate the service cost for the year.
- Benefit attributed to services rendered during the year
- 1,600,000
- Discount rate at the start of the year (case data)
- 3.2 %
- Discount rate at the reporting date (case data)
- 3.9 %
- Period until payment
- 15