v3.26.1
Post-retirement benefit obligations (Tables)
12 Months Ended
Jun. 30, 2026
Post-retirement benefit obligations  
Schedule of post-retirement benefit obligations

Non-current

Current

Total

  ​ ​ ​

2026

2025

  ​ ​ ​

2026

2025

2026

2025

for the year ended 30 June

Note

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

Post-retirement healthcare obligations

 

31.1

 

  ​

 

  ​

South Africa

 

 

4 504

3 943

 

347

325

4 851

4 268

United States of America

 

 

63

234

 

13

6

76

240

 

4 567

4 177

 

360

331

4 927

4 508

Pension obligations

 

31.2

 

Foreign post-retirement benefit obligation

 

 

7 055

7 944

 

378

386

7 433

8 330

Total post-retirement benefit obligations

 

 

11 622

12 121

 

738

717

12 360

12 838

Pension assets

 

31.2

 

 

South Africa post-retirement benefit asset

 

 

(124)

(113)

 

(124)

(113)

Foreign post-retirement benefit asset

 

 

(1 189)

(970)

 

(1 189)

(970)

Total post-retirement benefit assets

 

 

(1 313)

(1 083)

 

(1 313)

(1 083)

Net pension obligations

 

 

5 742

6 861

 

378

386

6 120

7 247

Schedule of loss/(gain) on post-retirement benefit obligations

  ​ ​ ​

  ​ ​ ​

Loss/(gain) recognised in the income 

  ​ ​ ​

Loss/(gain) recognised in other 

statement

comprehensive income

2026

2025

2024

2026

2025

2024

for the year ended 30 June

  ​ ​ ​

Note

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

Post-retirement benefit obligations

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Post-retirement healthcare obligations

 

31.1

 

379

 

523

 

495

 

378

 

137

 

137

Pension benefits projected benefit obligation

 

31.2

 

10 608

 

10 836

 

10 162

 

1 329

 

1 819

 

2 081

Pension benefits plan asset of funded obligation

 

31.2

 

(8 524)

 

(9 640)

 

(8 998)

 

(823)

 

(1 559)

 

(3 575)

Interest on asset limitation

239

644

665

Net movement on asset limitation and reimbursive right*

 

 

 

 

(1 131)

 

(648)

 

1 302

 

2 702

 

2 363

 

2 324

 

(247)

 

(251)

 

(55)

*Refer to note 31.2 for the asset not recognised due to asset limitation.

Schedule of actuarial valuations

  ​ ​ ​

Healthcare benefits

  ​ ​ ​

Pension benefits

Last actuarial valuation South Africa

 

30 June 2026

 

31 March 2026

Last actuarial valuation United States of America

 

30 June 2026

 

30 June 2026

Last actuarial valuation Europe

 

n/a*

 

30 April 2026

Full/interim valuation

 

Full

 

Full

Valuation method adopted

 

Projected unit credit

 

Projected unit credit

*Not applicable as there is no post-retirement healthcare obligation in Europe.

Schedule of actuarial assumptions

United States of

South Africa

 America

Europe

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

at valuation date

%

%

%

%

%

%

Healthcare cost inflation

  ​ ​ ​

6,0

 

7,5

 

n/a

*

n/a

*

n/a

 

n/a

Discount rate post-retirement medical benefits

 

9,4

 

12,0

 

5,6

 

5,3

 

n/a

 

n/a

Discount rate pension benefits

 

8,8

 

10,8

 

5,4

 

5,3

 

4,3

3,9

Pension increase assumption

 

4,2

 

6,0

 

n/a

**

n/a

**

2,2

 

2,2

Average salary increases

 

4,0

5,5

4,2

 

4,2

 

3,2

 

3,2

Weighted average duration of the obligation post-retirement medical obligation

 

12,5 years

 

12,5 years

 

11 years

 

9 years

 

n/a

 

n/a

Weighted average duration of the obligation pension obligation

 

10 years

 

10,25 years

 

8 years

8 years

 

13 years

 

14 years

 

*

The healthcare cost inflation rate in respect of the plans for the United States of America is capped. All additional future increases due to the healthcare cost inflation will be borne by the participants.

**

There are no automatic pension increases for the United States of America pension plan.

Healthcare  
Post-retirement benefit obligations  
Schedule of reconciliation of obligation recognised

  ​

  ​

South Africa

  ​ ​ ​

United States of America

  ​ ​ ​

Total

2026

  ​ ​ ​

2025

2026

  ​ ​ ​

2025

2026

  ​ ​ ​

2025

for the year ended 30 June

Rm

Rm

Rm

Rm

Rm

Rm

Total post-retirement healthcare obligation at beginning of year

 

4 268

 

3 915

 

240

 

246

 

4 508

 

4 161

Movements recognised in the income statement:

 

518

 

499

 

(139)

 

24

 

379

 

523

current service cost

 

23

 

22

 

6

 

12

 

29

 

34

past service cost*

(153)

(153)

interest cost

 

495

 

477

 

8

 

12

 

503

 

489

Actuarial losses/(gains) recognised in other comprehensive income:

 

379

 

146

 

(1)

 

(9)

 

378

 

137

arising from changes in financial assumptions

 

448

 

222

 

(3)

 

 

445

 

222

arising from changes in actuarial experience

 

(69)

 

(76)

 

2

 

(9)

 

(67)

 

(85)

Benefits paid

 

(314)

 

(292)

 

(10)

 

(15)

 

(324)

 

(307)

Translation of foreign operations

 

 

 

(14)

 

(6)

 

(14)

 

(6)

Total post-retirement healthcare obligation at end of year

 

4 851

 

4 268

 

76

 

240

 

4 927

 

4 508

*

During the year, the Group amended the US post-retirement medical plan. The amendment resulted in a past service credit (negative past service cost) which was recognised in the income statement.

Schedule of sensitivity analysis for actuarial assumptions

  ​ ​ ​

South Africa

  ​ ​ ​

United States of America

 

2026

  ​ ​ ​

2025

2026

  ​ ​ ​

2025

 

for the year ended 30 June

Rm

Rm

Rm

Rm

 

1% point change in actuarial assumptions:

 

  ​

 

  ​

 

  ​

 

  ​

Increase in the healthcare cost inflation

 

518

 

434

 

*

*

Decrease in the healthcare cost inflation

 

(450)

 

(377)

 

*

*

Increase in the discount rate

 

(433)

 

(360)

 

(7)

 

(21)

Decrease in the discount rate

 

505

 

419

 

9

 

25

*

A change in the healthcare cost inflation for the United States of America will not have an effect on the above components or the obligation as the employer’s cost is capped and all future increases due to the healthcare cost inflation are borne by the participants. There are no automatic pension increases for the United States of America pension plan.

Pension  
Post-retirement benefit obligations  
Schedule of reconciliation of obligation recognised

South Africa

Foreign

Total

 

2026

2025

2026

2025

2026

2025

 

for the year ended 30 June

  ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

 

Projected benefit obligation at beginning of year

 

79 943

 

72 186

 

11 987

 

11 697

 

91 930

 

83 883

Movements recognised in income statement:

 

9 713

 

9 961

 

895

 

875

 

10 608

 

10 836

current service cost

 

1 411

 

1 196

 

430

 

410

 

1 841

 

1 606

interest cost

 

8 302

 

8 765

 

465

 

465

 

8 767

 

9 230

Actuarial losses/(gains) recognised in other comprehensive income:

 

1 620

 

2 082

 

(291)

 

(263)

 

1 329

 

1 819

arising from changes in financial assumptions

 

1 046

 

4 652

 

(210)

 

(204)

 

836

 

4 448

arising from change in actuarial experience

 

574

 

(2 570)

 

(81)

 

(59)

 

493

 

(2 629)

Member contributions

 

640

 

658

 

 

 

640

 

658

Benefits paid

 

(5 048)

 

(4 944)

 

(716)

 

(722)

 

(5 764)

 

(5 666)

Translation of foreign operations

 

 

 

(1 154)

 

400

 

(1 154)

 

400

Projected benefit obligation at end of year

 

86 868

 

79 943

 

10 721

 

11 987

 

97 589

 

91 930

unfunded obligation¹

 

 

 

7 433

 

8 330

 

7 433

 

8 330

funded obligation

 

86 868

 

79 943

 

3 288

 

3 657

 

90 156

 

83 600

1Certain of the foreign defined benefit plans have reimbursement rights under contractually agreed legal binding terms that match the amount and timing of some of the benefits payable under the plan. This reimbursive right has been recognised in long-term receivables at fair value of R83 million (2025: R112 million). A loss of R22 million (2025: R23 million) has been recognised in other comprehensive income in respect of the reimbursive right.
Schedule of allocation of plan assets

South Africa

United States of America

  ​

2026

2025

2026

2025

at 30 June

  ​ ​ ​

%  

  ​ ​ ​

%  

  ​ ​ ​

%  

  ​ ​ ​

%  

Equities

53

55

33

33

resources

 

8

 

6

 

3

 

3

industrials

 

4

 

4

 

4

 

4

consumer discretionary

 

9

 

11

 

3

 

4

consumer staples

 

5

 

6

 

2

 

3

healthcare

 

3

 

4

 

3

 

3

information technologies

 

7

 

7

 

10

 

8

telecommunications

 

3

 

3

 

3

 

3

utilities

1

1

financials (ex real estate)

 

13

 

13

 

5

 

5

Fixed interest

 

21

 

17

 

41

 

42

Direct property

 

11

 

11

 

5

 

7

Listed property

 

3

 

3

 

 

Cash and cash equivalents

 

3

 

4

 

 

Third party managed assets

 

6

 

9

 

 

Other

 

3

 

1

 

21

 

18

Total

 

100

 

100

 

100

 

100

South Africa¹

United States of America

Minimum

Maximum

Minimum

Maximum

Asset classes

  ​ ​ ​

  ​%

  ​ ​ ​

%

  ​ ​ ​

%

  ​ ​ ​

%

Equities

 

  ​

 

  ​

 

  ​

 

  ​

local

 

20

 

35

 

 

100

foreign

 

25

 

40

 

 

100

Fixed interest

 

10

 

25

 

 

100

Property

 

10

 

20

 

 

100

Other

 

 

15

 

 

100

1Members of the defined contribution scheme have a choice of five investment portfolios. The portion of fund assets invested in each portfolio is 0,9%, 84,3%, 2,2%, 0,5% and 12,1% for the low risk portfolio, moderate balanced portfolio, aggressive balanced portfolio, money market portfolio and cash flow matched portfolio, respectively. Defined benefit members’ funds are invested in the moderate balanced portfolio. The money market portfolio is restricted to active members from age 55. The targeted allocation disclosed represents the moderate balanced investment portfolio which the majority of the members of the scheme have adopted.
Schedule of net defined benefit liability (asset)

South Africa

Foreign

Total

 

  ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

for the year ended 30 June

Rm

Rm

Rm

Rm

Rm

Rm

Projected benefit obligation (funded)

86 868

79 943

3 288

3 657

90 156

83 600

defined benefit portion

 

41 265

 

38 300

 

3 288

 

3 657

 

44 553

 

41 957

defined benefit option for defined contribution members

 

45 603

 

41 643

 

 

 

45 603

 

41 643

Plan assets

 

(92 924)

 

(87 141)

 

(4 477)

 

(4 627)

 

(97 401)

 

(91 768)

defined benefit portion

 

(138 527)

 

(45 498)

 

(4 477)

 

(4 627)

 

(143 004)

 

(50 125)

defined benefit option for defined contribution members

 

45 603

 

(41 643)

 

 

 

45 603

 

(41 643)

Projected benefit obligation (unfunded)

 

 

 

7 433

 

8 330

 

7 433

 

8 330

Asset not recognised due to asset limitation

 

5 932

 

7 085

 

 

 

5 932

 

7 085

Net liability/(asset) recognised

 

(124)

 

(113)

 

6 244

 

7 360

 

6 120

 

7 247

Schedule of reconciliation of plan assets of funded obligation

South Africa

Foreign

Total

 

2026

2025

2026

2025

2026

2025

 

for the year ended 30 June

  ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

 

Fair value of plan assets at beginning of year

 

87 141

 

79 389

 

4 627

 

4 596

 

91 768

 

83 985

Movements recognised in income statement:

 

8 305

 

9 420

 

219

 

220

 

8 524

 

9 640

interest income

 

8 305

 

9 420

 

219

 

220

 

8 524

 

9 640

Actuarial (losses)/gains recognised in other comprehensive income:

 

514

 

1 283

 

309

 

276

 

823

 

1 559

arising from return on plan assets (excluding interest income)

 

514

 

1 283

 

309

 

276

 

823

 

1 559

Plan participant contributions¹

 

640

 

658

 

 

 

640

 

658

Employer contributions¹

 

1 372

 

1 335

 

57

 

66

 

1 429

 

1 401

Benefit payments

 

(5 048)

 

(4 944)

 

(373)

 

(419)

 

(5 421)

 

(5 363)

Translation of foreign operations

 

 

 

(362)

 

(112)

 

(362)

 

(112)

Fair value of plan assets at end of year

 

92 924

 

87 141

 

4 477

 

4 627

 

97 401

 

91 768

Actual return on plan assets

 

8 819

 

10 703

 

528

 

496

 

9 347

 

11 199

1

Contributions, for the defined contribution section, are paid by the members and Sasol at fixed rates.

Schedule of contributions to plans

  ​ ​ ​

South Africa

  ​ ​ ​

Foreign

Rm

Rm

Pension contributions

 

1 399

57

Schedule of sensitivity analysis for actuarial assumptions

South Africa

Foreign

 

2026

2025

2026

2025

 

for the year ended 30 June

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

  ​ ​ ​

Rm

 

1% point change in actuarial assumptions

 

  ​

 

  ​

 

  ​

 

  ​

Increase in average salaries increase assumption

 

5

 

6

 

200

 

247

Decrease in average salaries increase assumption

 

(4)

 

(5)

 

(175)

 

(215)

Increase in the discount rate

 

(1 508)

 

(1 443)

 

(1 141)

 

(1 212)

Decrease in the discount rate

 

1 805

 

1 722

 

1 402

 

1 473

Increase in the pension increase assumption

 

1 855

 

1 770

 

758

*

821

*

Decrease in the pension increase assumption

 

(1 581)

 

(1 513)

 

(639)

(689)

*

*

This sensitivity analysis relates only to the Europe obligations as there are no automatic pension increases for the United States of America pension plan, and thus it is not one of the inputs utilised in calculating the obligation.