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Question - Smith Bhd operates a defined benefit pension plan for its employees. At 1 January 2012 the FV of the pension plan assets was RM2,600,000 and the PV of the plan liabilities was RM2,900,000. The actuary estimates that the current and past service costs for the year ended 31 December 2012 is RM450,000 andRM90,000 respectively. The past service cost is caused by an increase in pension benefits and takes effect from 31 December 2012. the plan liabilities at 1 January and 31 December 2012 correctly reflect the impact of this increase. The interest rate on high quality corporate bonds for the year ended 31 December 2012 was 8%. The pension plan paid RM240,000 to retired members on 31 December 2012. On the same date, Smith Bhd paid RM730,000 in contributions to the pension plan and this included RM90,000 in respect of past service costs. At 31 December 2012 the FV of the pension plan assets is RM3,400,000 and the PV of the plan liabilities is RM3,500,000.
Required - Calculate the remeasurement gains or losses on pension plan assets and liabilities that will be included in OCI for the year ended 31 December 2012.
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