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Pensions (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of defined benefit plans [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, 2022		December 31, 2023
		NT$000		NT$000
Present value of defined benefit obligations		(759,548)		(744,191)
Fair value of plan assets		500,333		516,854
Net defined benefit liability		(259,215)		(227,337)

Summary of Movements in net Defined Benefit Liability

(b)

Movements in net defined benefit liability are as follows:


		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)


		2023
		Present value of defined benefit obligations		Fair value of plan assets		Net defined benefit liability
		NT$000		NT$000		NT$000
January 1		(759,548)		500,333		(259,215)
Current services cost		(133)		—		(133)
Interest (expense) income		(11,150)		7,441		(3,709)
		(770,831)		507,774		(263,057)
Remeasurements:
Return on plan assets (excluding amounts included in interest income or expense)		—		3,187		3,187
Impact on changes in demographic assumptions		14,216		—		14,216
Financial assumption movement effect		(7,103)		—		(7,103)
Experience adjustments		399		—		399
		7,512		3,187		10,699
Pension fund contribution		—		25,021		25,021
Paid pension		19,128		(19,128)		—
December 31		(744,191)		516,854		(227,337)

Principal Actuarial Assumptions

(d)

The principal actuarial assumptions used were as follows:


		Year ended December 31,
		2022		2023
Discount rate		1.50%		1.40%
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, 2022
Effect on present value of defined benefit obligations		(20,992)		21,860		21,385		(20,651)
December 31, 2023
Effect on present value of defined benefit obligations		(17,562)		18,228		17,817		(17,262)

Analysis of Timing of the Future Pension Payment

(f)

As of December 31, 2023, the weighted average duration of that retirement plan is 9.7 years. The analysis of timing of the future pension payment was as follows:


		December 31, 2023
		NT$000
Within 1 year		69,288
1-2 years		42,487
2-5 years		115,279
5-10 years		181,850
		408,904