Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 389

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 389
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 actuaries using

assumptions consistent with those adopted for valuing the insured obligations.

(f) The holdings of cash and other are predominantly cash and short-term money market instruments.

(g) The Group makes limited use of futures, repurchase agreements and other instruments to manage the interest rate risk in some of its plans. Fund managers may also use derivatives to

hedge currency movements within their portfolios and, in the case of bond managers, to take positions that could be taken using direct holdings of bonds but more efficiently. Exposure to

these instruments is closely monitored and maintained at a level that does not endanger the liquidity of any pension plan. The assets of the plans are managed on a day-to-day basis by external specialist fund managers. These managers may invest in the Group’s securities subject to limits imposed by the relevant fiduciary committees and local legislation. The approximate total holding of Group securities within the plans is US$ 1million ( 2023 : US$ 2million ). Maturity of defined benefit obligations An approximate analysis of the maturity of the obligations is given in the table below.

|                                                         | Pensionbenefits | Otherbenefits | 2024Total | 2023Total | 2022Total |
| Proportion relating to current employees                |             19% |           15% |       18% |       17% |       18% |
| Proportion relating to former employees not yet retired |              9% |            —% |        9% |        9% |        9% |
| Proportion relating to retirees                         |             72% |           85% |       73% |       74% |       73% |
| Total                                                   |            100% |          100% |      100% |      100% |      100% |
| Average duration of obligations (years)                 |            11.5 |          11.5 |      11.5 |      10.8 |      11.4 |

Most of the Group’s defined benefit pension plans are closed to new entrants, therefore the carrying value of the Group’s post-employment obligations is less sensitive to assumptions about future salary increases than to other assumptions such as future inflation. Geographical distribution of defined benefit obligations An approximate analysis of the geographic distribution of the obligations is given in the table below:

|             | Pensionbenefits | Otherbenefits | 2024Total | 2023Total | 2022Total