Valuation Results – Going Concern
Financial Status
A going concern valuation compares the relationship between the value of Plan assets and the present value of expected future benefit cash flows in respect of accrued service, assuming the Plan will be maintained indefinitely.
The results of the current valuation, compared with those from the previous valuation, are summarized as follows:
| 31.12.2019 | 31.12.2018 | |
|---|---|---|
| Assets | ||
| Market value of assets | $34,778,000 | $32,901,000 |
| Going concern funding target | ||
| Active members | $2,913,000 | $4,434,000 |
| Pensioners and survivors | $23,533,000 | $22,715,000 |
| Deferred pensioners | $240,000 | $229,000 |
| Total | $26,686,000 | $27,378,000 |
| Funding excess (shortfall) | $8,092,000 | $5,523,000 |
The going concern funding target includes a provision for adverse deviations.