- 49 - Unit : Million Baht Separate financial statements 2021 2020 Impact on defined benefit obligation Impact on defined benefit obligation Change in assumption Increase in assumption Decrease in assumption Increase in assumption Decrease in assumption Discount rate 1% (386) 446 (443) 516 Salary growth rate 1% 349 (308) 402 (352) The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the previous year. Through its defined benefit retirement benefit plans and other long-term benefits plans, the Group is exposed to a number of risks, the most significant of which are detailed below: Changes in effective bond yields A decrease in effective government bond yields will increase plan liabilities. The weighted average duration of the defined benefit obligation is 11 years (2020 : 12 years). The Group uses the cash flows from operating activities to pay the retirement and other long-term benefits. Expected maturity analysis of retirement and other long-term benefits as at December 31, 2021 are as follows: Unit : Million Baht Consolidated financial statements Less than 1 year Between 1 - 5 years More than 5 years Total Retirement benefits 43 466 3,291 3,800 Other long-term benefits 14 115 76 205 Total 57 581 3,367 4,005 Unit : Million Baht Separate financial statements Less than 1 year Between 1 - 5 years More than 5 years Total Retirement benefits 42 455 3,257 3,754 Other long-term benefits 14 115 75 204 Total 56 570 3,332 3,958 Expected maturity analysis of retirement and other long-term benefits as at December 31, 2020 are as follows: Unit : Million Baht Consolidated financial statements Less than 1 year Between 1 - 5 years More than 5 years Total Retirement benefits 94 314 3,624 4,032 Other long-term benefits 13 82 112 207 Total 107 396 3,736 4,239 351 NOTES TO THE FINANCIAL STATEMENTS IRPC PUBLIC COMPANY LIMITED
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