Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 143

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 143
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WESTPAC GROUP 2025 ANNUAL REPORT
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NOTES TO THE FINANCIAL STATEMENTS

Note 32.Superannuation commitments (Continued)
Sensitivity to changes in significant assumptionsThe following table shows the impact of changes in assumptions on the defined benefit obligation for the WGP. No reasonably possible changes in the assumptions of Westpac’s other defined benefit plans would have a material impact on the defined benefit obligation.
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                                    ​                                        ​       ​         ​         ​   
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​                                                                                      Increase in obligation
​                                                                             ​         ​         ​         ​
$m                                                                                   2025                2024
0.5% decrease in discount rate                                                        136                 136
0.5% increase in annual salary increases                                                2                   3
0.5% increase in inflation rate (pensioners receive inflationary increase)            133                 131
1 year increase in life expectancy                                                     48                  46
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Asset allocationThe table below provides a breakdown of the schemes’ investments by asset class.
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        ​            ​       ​        ​         ​          ​       ​        ​         ​       
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​                    2025                                  ​                              2024
​                    ​   Australian   ​                ​   ​   Australian   ​                ​
%                             funds       Overseas funds            funds       Overseas funds
Cash                             5%   ​               4%   ​           5%   ​               3%
Equity instruments              44%   ​               9%   ​          43%   ​               9%
Debt instruments                26%   ​               5%   ​          26%   ​               5%
Property                         8%   ​               1%   ​           8%   ​               2%
Other assets                    17%   ​              81%   ​          18%   ​              81%
Total                          100%   ​             100%   ​         100%   ​             100%
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Equity and debt instruments are mainly quoted assets while property and other assets are mainly unquoted. Other assets include infrastructure funds and private equity funds.
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FINANCIAL   EXHIBITS INDEX   STRATEGIC   PERFORMANCE   EXHIBIT 15.4   ADDITIONAL 
REPORT                       REVIEW      REVIEW                       INFORMATION
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Note 33.Auditor