Notes 2016 2015
$’000 $’000
Long service leave 271 181
Australian Cricketers’ Retirement Account (ACRA) entitlements 1 (v) 20,231 10,245
Players’ and Umpires’ Retirement Benefits Scheme (P&URBS) entitlements 1 (v) 183 192
20,685 10,618

ACRA and P&URBS

As disclosed in Note 1(v), the ACRA, P&URBS employee entitlements are defined benefit scheme and post-employment plans respectively.

The reconciliation of the movement in the present value of the plans is as follows:

2016 2015
 $’000  $’000
Carrying amount at start of year 11,274  10,548
Amounts recognised in the income statement
Current service cost 2,067  1,813
Interest cost 335 378
Special Contribution allocation, payable under MoU 10,750  –
Actuarial (gains) / losses (148)  (563)
 
Less Benefits paid  1,064  902
Carrying amount at end of year  23,214  11,274

Although neither scheme has plan assets as defined by AASB119: Employee Benefits, under an agreement with the Australian Cricketers’ Association, Cricket Australia is required to hold restricted assets to fund ACRA. No restricted funds are held for P&URBS. The current portion of the liability is determined based on expected retirements in the next financial year.

2016 2015
 $’000  $’000
Carrying amount of ACRA   23,030   11,026
Investments held in relation to ACRA   26,038   13,554
Net surplus (deficiency)     3,008     2,528

The level of contribution to ACRA is reviewed annually by a qualified actuary with the purpose of ensuring that ACRA is fully funded. The contribution levels are based on the actuarial assumptions identified below.

2016 2015
 $’000  $’000
Contribution in current year, including Special Contribution allocation 12,989  2,084
Expected contribution for next financial year  2,277  2,239

The principal actuarial assumptions used in estimating the present value of the defined benefit obligations and contribution levels for ACRA are:

2016 2015
$’000 $’000
Investment earnings rate 2.97%  3.58%
Annual growth in value of ACRA entitlements (both match and contract)  3.00%  3.00%
  – Cricket Australia contracted players  3.00%  3.00%
  – State contracted players  3.00%  3.00%
  – Rookie players  3.00%  3.00%
 – BBLT20 3.00% 3.00%
Average retirement age
  – Cricket Australia contracted players  35 35
  – State contracted players  30  30