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Coothara Ltd reports the following in relation to its employees' post-employment benefits in the notes to its financial statements. This disclosure complies with the requirements
Coothara Ltd reports the following in relation to its employees' post-employment benefits in the notes to its financial statements. This disclosure complies with the requirements of AASB 119 Employee benefits. 2021 2020 $M $M Present value of funded obligations (4,890) (5,120) Fair value of plan assets 4,234 4,580 Net superannuation plan assets (liabilities) as at 30 June (656) (540) { REQUIRED: From this disclosure what type of superannuation plan does Coothara Ltd contribute to on behalf of its employees (i.e. a defined contribution plan or a defined benefit plan)? Justify your answer. 4
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