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Pensions (Tables)

12 Months Ended

Dec. 31, 2022

Text block [abstract]

Summary of Amounts Recognized in Statements of Financial Position

(a)

The amounts recognized in the statements of financial position are as follows:


		December 31, 2021		December 31, 2022
		NT$000		NT$000
Present value of defined benefit obligations		(959,677)		(759,548)
Fair value of plan assets		456,389		500,333
Net defined benefit liability		(503,288)		(259,215)

Summary of Movements in net Defined Benefit Liability

(b)

Movements in net defined benefit liability are as follows:


		2020
		Present value of defined benefit obligations		Fair value of plan assets		Net defined benefit liability
		NT$000		NT$000		NT$000
January 1		(901,159)		421,052		(480,107)
Current services cost		(263)		—		(263)
Interest (expense) income		(8,835)		4,171		(4,664)
		(910,257)		425,223		(485,034)
Remeasurements:
Return on plan assets (excluding amounts included in interest income or expense)		—		12,568		12,568
Financial assumption movement effect		(57,180)		—		(57,180)
Experience adjustments		(7,378)		—		(7,378)
		(64,558)		12,568		(51,990)
Pension fund contribution		—		25,373		25,373
Paid pension		31,424		(31,424)		—
December 31		(943,391)		431,740		(511,651)


		2021
		Present value of defined benefit obligations		Fair value of plan assets		Net defined benefit liability
		NT$000		NT$000		NT$000
January 1		(943,391)		431,740		(511,651)
Current services cost		(237)		—		(237)
Interest (expense) income		(4,629)		2,137		(2,492)
		(948,257)		433,877		(514,380)
Remeasurements:
Return on plan assets (excluding amounts included in interest income or expense)		—		5,613		5,613
Impact on changes in demographic assumptions		(20,022)		—		(20,022)
Financial assumption movement effect		23,757		—		23,757
Experience adjustments		(24,347)		—		(24,347)
		(20,612)		5,613		(14,999)
Pension fund contribution		—		26,091		26,091
Paid pension		9,192		(9,192)		—
December 31		(959,677)		456,389		(503,288)


		2022
		Present value of defined benefit obligations		Fair value of plan assets		Net defined benefit liability
		NT$000		NT$000		NT$000
January 1		(959,677)		456,389		(503,288)
Current services cost		(257)		—		(257)
Interest (expense) income		(6,589)		3,161		(3,428)
		(966,523)		459,550		(506,973)
Remeasurements:
Return on plan assets (excluding amounts included in interest income or expense)		—		34,550		34,550
Financial assumption movement effect		73,218		—		73,218
Experience adjustments		114,466		—		114,466
		187,684		34,550		222,234
Pension fund contribution		—		25,524		25,524
Paid pension		19,291		(19,291)		—
December 31		(759,548)		500,333		(259,215)

Principal Actuarial Assumptions

(d)

The principal actuarial assumptions used were as follows:


		Year ended December 31,
		2021		2022
Discount rate		0.70%		1.50%
Future salary increase		3.50%		3.50%

Sensitivity Analysis of Present Value of Defined Benefit Obligations Effected by Changes of Significant Actuarial Assumptions

The present value of defined benefit obligations is affected by the change in actuarial assumption. The analysis was as follows:


		Discount rate				Future salary increase
		Increase 0.25%		Decrease 0.25%		Increase 0.25%		Decrease 0.25%
		NT$000		NT$000		NT$000		NT$000
December 31, 2021
Effect on present value of defined benefit obligations		(28,574)		29,825		28,941		(27,893)
December 31, 2022
Effect on present value of defined benefit obligations		(20,992)		21,860		21,385		(20,651)

Analysis of Timing of the Future Pension Payment

(f)

As of December 31, 2022, the weighted average duration of that retirement plan is 11.4 years. The analysis of timing of the future pension payment was as follows:


		December 31, 2022
		NT$000
Within 1 year		32,483
1-2 years		52,470
2-5 years		90,001
5-10 years		168,888
		343,842