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Benefit plans | 12 Months Ended
--- | ---
Dec. 31, 2023
Benefit Plans |
Benefit plans |
| Note | 30 | Benefit plans
The defined benefit plans granted to Company employees consist of a bonus for all the employees who have the necessary years of service and have made the required contributions to retire under ordinary retirement plans. The amounts and conditions vary depending on the collective bargaining agreement and for non-unionized personnel.
Schedule of benefit plans |  |  |
| 12.31.23 |  | 12.31.22
Non-current | 4,922 |  | 5,795
Current | 578 |  | 729
Total Benefit plans | 5,500 |  | 6,524
The breakdown of the benefit plan obligations as of December 31, 2023 and 2022 is as follows:
Schedule of the breakdown of the benefit plan obligations |  |  |
| 12.31.23 |  | 12.31.22
Benefit payment obligations at beginning of year | 6,524 |  | 6,835
Current service cost | 284 |  | 1,165
Interest cost | 2,144 |  | 2,578
Actuarial losses | 1,447 |  | 2,037
Result from exposure to inflation for the year | (4,429) |  | (5,260)
Benefits paid to participating employees | (470) |  | (831)
Benefit payment obligations at end of year | 5,500 |  | 6,524
As of December 31, 2023 and 2022, the Company does not have any assets related to post-retirement benefit plans. The breakdown of the charge recognized in the Statement of Comprehensive Income (Loss) is as follows:
Schedule of detail of the charge recognized in the statement of comprehensive loss income |  |  |  |  |
| 12.31.23 |  | 12.31.22 |  | 12.31.21
Cost | 284 |  | 1,165 |  | 402
Interest | 2,144 |  | 2,578 |  | 4,178
Actuarial results - Other comprehensive results | 1,447 |  | 2,037 |  | (1,215)
Benefit plan charge | 3,875 |  | 5,780 |  | 3,365
The actuarial assumptions used are based on market interest rates for Argentine government bonds, past experience, and the Company Management’s best estimate of future economic conditions. Changes in these assumptions may affect the future cost of benefits and obligations. The main assumptions used are as follow:
Schedule of assumptions |  |  |  |  |
| 12.31.23 |  | 12.31.22 |  | 12.31.21
Discount rate | 5% |  | 5% |  | 5%
Salary increase | 1% |  | 1% |  | 1%
Inflation | 89% |  | 48% |  | 57%
Sensitivity analysis:
Schedule of sensitivity analysis |  |  |
|  |  | 12.31.23
Discount Rate: 4% |  |  |
Obligation |  |  | 6,294
Variation |  |  | 450
|  |  | 8%
Discount Rate: 6% |  |  |
Obligation |  |  | 5,300
Variation |  |  | (544)
|  |  | (9%)
Salary Increase : 0% |  |  |
Obligation |  |  | 5,280
Variation |  |  | (564)
|  |  | (10%)
Salary Increase: 2% |  |  |
Obligation |  |  | 6,311
Variation |  |  | 467
|  |  | 8%
The expected payments of benefits are as follow:
Schedule of the expected payments of benefits |  |  |  |  |  |  |  |  |  |  |  |
|  | In 2024 |  | In 2025 |  | In 2026 |  | In 2027 |  | In 2028 |  | Between 2029 to 2033
At December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Benefit payment obligations |  | 578 |  | 108 |  | 102 |  | 108 |  | 19 |  | 101
Estimates based on actuarial techniques imply the use of statistical tools, such as the so-called demographic tables used in the actuarial valuation of the Company’s active personnel. In order to determine the mortality of the Company’s active personnel, the “1971 Group Annuity Mortality” table has been used. In general, a mortality table shows for each age group the probability that a person in any such age group will die before reaching a predetermined age. Male and female mortality tables are elaborated separately inasmuch as men and women’s mortality rates are substantially different. In order to estimate total and permanent disability due to any cause, 80% of the “1985 Pension Disability Study” table has been used. In order to estimate the probability that the Company’s active personnel will leave the Company or stay therein, the “ESA 77” table has been used. Liabilities related to the above-mentioned benefits have been determined taking into consideration all the rights accrued by the beneficiaries of the plans through the closing date of the year ended December 31, 2023. These benefits do not apply to key management personnel.

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