EMPLOYEE BENEFITS |
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| Notes and other explanatory information [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EMPLOYEE BENEFITS | NOTE 13 – EMPLOYEE BENEFITS
The severance pay liability constitutes a defined benefit plan and was calculated using actuarial assumptions. In measuring the present value of the defined benefit obligation and the current service costs the projected unit credit method was used.
Information on the Company’s defined benefit pension plan and other defined benefit plans, in aggregate, is summarized as follows:
The following are the continuities of the fair value of plan asset or plan liability and the present value of the defined benefit plan obligations:
The actual amount paid may vary from the estimate based on actuarial valuations being completed, investment performance, volatility in discount rates, regulatory requirements and other factors.
FEMTO TECHNOLOGIES INC. Notes to the Consolidated Financial Statements For the Years Ended for December 31, 2025, 2024 and 2023 (Expressed in Canadian dollars, unless otherwise noted)
NOTE 13 – EMPLOYEE BENEFITS (continued)
The principal actuarial assumptions used in calculating the Company’s defined benefit plan obligations and net defined benefit plan cost for the years were as follows (expressed as weighted averages):
The following table outlines the key assumptions for the years ended December 31, 2025 and 2024 and the sensitivity of a 1% change in each of these assumptions on the defined benefit plan obligations and the net defined benefit plan cost.
The sensitivity analysis provided in the table is hypothetical and should be used with caution. The sensitivities of each key assumption have been calculated independently of any changes in other key assumptions. Actual experience may result in changes in a number of key assumptions simultaneously. Changes in one factor may result in changes in another, which could amplify or reduce the impact of such assumptions.
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