Notes to the condensed consolidated provisional annual financial statements
for the year ended 31 March 2015
2015Rm |
2014Rm |
|
|---|---|---|
| Provisions | ||
| Non-current portion of provisions | 476 | 1 496 |
| Employee related | 437 | 1 388 |
| Non-employee related | 39 | 108 |
| Current portion of provisions | 2 169 | 2 328 |
| Employee related | 1 867 | 1 597 |
| Non-employee related | 302 | 731 |
The decrease in non-current employee related provisions is mainly due to the effect of the settlement recognised on a portion of the post-retirement medical aid benefit. The settlement is as a result of an offer to pensioners who retired after 1994 but before 30 April 2013 to transfer the post-retirement medical aid liability obligation to an insurer.
The increase in the current portion of employee related provisions is mainly due to the voluntary severance, voluntary early retirement and retrenchment process.
The decrease in non-employee related provisions is due to the reclassification at 30 September 2014 of an amount of R304 million to trade and other receivables to more accurately reflect the substance of a transaction with a third party. The partial settlement of the fine imposed by the Competition Commission has also contributed to the decrease in the non-employee related provision.