AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 383)

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24. Employee benefits (continued)

The following pre-tax employee benefit expenses have been recognised:

In thousands of Euro 2009 2008

Defined contribution plans........................................................... 1,084 -

Defined benefit plans ................................................................... 522 -

Other ............................................................................................ 319 -

Total pre tax employee benefit costs............................................ 1,925

a) Defined contribution plans

In certain countries, notably in France and Italy, the Group participates in state plans for which contribution

expensed correspond to the contributions due to the state organisations. State plans are considered to be defined

contribution plans.

For defined contribution plans, the benefits paid out depend solely on the amount of contribution paid into the

plan and the investment returns arising from contributions. The Group's obligation is limited to the amount of

contributions paid.

b) Defined benefits plans

Independent actuaries calculate annually the Group's obligation in respect of defined benefit plans, using the

projected unit credit method. Actuarial assumptions comprise mortality, rates of employee turnover, projection

of future salary levels and revaluation of future benefits. Future estimated benefits are discounted using discount

rates appropriate to each country. These plans have different characteristics:

• Perpetual annuity: the retirees benefit from the receipt of a pension during their retirement. These plans

are to be found primarily in Germany and The Netherlands.

• Lump-sum payments on the employee's retirement or departure: these plans are to be found primarily in

France and Italy.

Actuarial gains and losses are recognised as income or expense in accordance with "the corridor " method under

which net cumulative gains and losses exceeding the greater of 10% of the present value of the defined benefit

obligations and 10% of the fair value of the plan assets are amortised as income or expense over the expected

average remaining working lives of the employees participating in those plans.

Assumptions

To determine actuarial valuations, actuaries for the Group have determined general assumptions on a country-by-

country basis and specific assumptions (rate of employee turnover, salary increases) company by company.

The principal assumptions used to calculate the defined obligation as of 31 December 2009 by the main geo-

graphical segments are as follows:

Discount Rate

Future Salary

increases %

Future Pension

increases %

France................................................................

....................

5.25 2.50 – 3.00 5.25

Germany................................................................

................

5.10 2.00 4.00

Both pension schemes in France and Germany are unfunded.

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