Mark limited has a defined benefit plan that pays retirement benefits to all participating
employees. Mark limited contributes to the pension fund GIPF in Namibia. Employee benefits paid are determined using a formula that incorporates the number of year employed and salary level of the members upon retirement

Required:

• Calculate the employee benefit expense to be recognized in profit or loss (5 marks)
• (b) Calculate the re-measurement of the net, defined liability /asset to be
  recognized in other comprehensive income
• Explain how non-payment of contribution and the change in the pension benefit should be treated in the financial statements of the company .