Cyprus Energy Regulatory Authority Annual Report 2021

141 Annual Report 2021 Movement in the accumulated provision with respect to the retirement plan liabilities as shown in other liabilities is as follows: 2021 2020 € € Balance at 1 January 2.698.178 1.906.179 Provision for the year 158.957 360.991 Actuarial (gain)/loss on obligation (433.084) 446.181 Payment of benefits (55.709) (33.270) Contributions by members 18.483 18.099 Balance at 31 December 2.386.825 2.698.178 At 31 December 2021 the actuarial position in respect of the defined benefit plan was as follows: 2021 2020 € € Present value of accrued plan obligations 2.386.825 2.698.178 Provision for plan liabilities recognised in the statement of financial position 2.386.825 2.698.178 2021 2020 € € Interest income 49.288 40.930 Finance income 49.288 40.930 Interest expense on lease liabilities (15.695) (22.361) Other interest expense (5.598) (3.544) Sundry finance expenses (15.084) (11.683) Finance costs (36.377) (37.588) Net finance income 12.911 3.342 14. Finance income/(costs) 2021 2020 € € Defence contribution 2.247 3.658 Charge for the year 2.247 3.658 15. Tax

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