01 Gothaer Konzern_E_09_Umschl - Gothaer Allgemeine ...

gothaer.de

01 Gothaer Konzern_E_09_Umschl - Gothaer Allgemeine ...

Consolidated Financial Statements

Expected

pension costs

Expected provisions

for pension benefits

Defined contribution

pension plans

The estimate of provisions for pension benefits as of 31 December 2010 which is required

for compliance with IAS 19 is based on the following assumptions about the volume of

anticipated pension costs as well as the future amortization payable.

Breakdown by type of expense €million

2010 2009

Current service cost including interest 9.5 9.7

Interest cost 33.3 33.9

Expected return on plan assets –15.6 –15.3

Amortization of actuarial gains/losses 0.1 0.2

Expected pension costs 27.3 28.5

Developments €million

2010 2009

Provisions for pension benefits as of 1 Jan. 306.3 299.4

Expected pension cost 27.3 28.5

Expected pension benefits paid by employer –15.6 –15.4

Expected employer contributions to plan assets –6.7 –6.0

Expected provisions for pension benefits as of 31 Dec. 311.2 306.5

Breakdown by type of plan €million

2009 2008

Pension benefit plans by the use of deferred compensation 0.7 0.8

Direct insurance paid by employers 0.1 0.1

Direct insurance paid by employees 0.2 0.2

Lump-sum taxes 0.1 0.1

Total 1.1 1.2

Defined contribution pension plans involve either direct commitments or direct insurance.

In this case, predetermined amounts are paid, for example, as a function of compensation,

and the rights of the recipient exist in the form of a pledge or title against an

insurance company and the obligation of the employer is fulfilled upon payment of

premiums.

164 Gothaer Group Annual Report 2009

More magazines by this user
Similar magazines