Annual report 2010 - Hapimag

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 2010 OF THE HAPIMAG GrouP
16 // Liabilities from emploYee Benefits, Net pension funds
Pension liabilities/funds (CH)
For the employees insured in Switzerland, the following actuarial pension liabilities/funds exist based on defined benefit pension plans:
in euR 1000 2010 2009
Change in pension liabilities (–) / funds in balance sheet:
Opening balance –96 –288
net periodic pension cost –541 –626
employer contributions 942 818
exchange differences 18 0
Closing blance 323 –96
Present value of defined benefit obligations:
Opening balance –11 981 –10 328
current service cost (net) –706 –717
insurance premiums 345 296
interest cost –412 –350
employee contributions –683 –587
actuarial gains (+) / losses (–) due to changes in assumptions –1 126 –543
actuarial gains (+) / losses (–) due to experience –5 74
Benefits paid (net) –502 206
exchange differences –2 567 –32
Closing blance –17 637 –11 981
Fair value of plan assets:
Opening balance 12 241 10 219
expected return on plan assets 577 441
actuarial gains (+) / losses (–) –197 644
Benefits paid (net) 502 –206
employer contributions 942 818
employee contributions 683 587
insurance premiums –345 –296
exchange differences 2 531 34
Closing blance 16 934 12 241
Surplus/deficit (–) at closing –703 260
unrecognised actuarial gains (–) and losses 941 –355
exchange differences 85 –1
Pension liabilities (–)/funds in balance sheet at closing 323 –96
Net periodic pension cost
Current service cost (net) –706 – 717
Interest cost –412 –350
Expected return on plan assets 577 441
Net periodic pension cost (included in personnel expenses) –541 –626
Actual return on plan assets 380 1 085
26 Hapimag Annual Report 2010