The net total of the following amounts:

1. the present value of the defined benefit obligation at the end of the reporting period;
2. plus any actuarial gains (less any actuarial losses) not recognised;
3. minus any past service cost not yet recognised;
4. minus the fair value at the end of the reporting period of plan assets (if any) out of which the obligations are to be settled directly.

(According to International Accounting Standards IAS 19)