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94
Hamon Annual Report 2012
32. PROVISIONS FOR PENSIONS
The provisions for pension benefits amounted to EUR 4.155 thousand at the end of 2012. They are primarily made
up of post-employment benefit in line with local practices.
Employee benefits
in EUR ‘000’ Provision for Provision for O other long term TOTAL
pension plan retirement benefits
lump sum
As of 31 December 2009 2 849 63 26 2 938
Additions 737 10 4 751
Utilization (305) (6) 1 (310)
Entry / changes in consolidation scope 121 - - 121
Exchange differences 114 - 5 119
Disposals (98) - - (98)
As of 31 December 2010 3 418 67 36 3 521
Additions 695 11 5 711
Utilization (201 (10) - (211 )
Others (221) - 1 (220)
As of 31 December 2011 3 691 68 42 3 801
Additions 675 14 33 722
Utilization (327) (5) - (332)
Others (36) - - (36)
As of 31 December 2012 4 003 77 75 4 155
of which current provisions 39 - - 39
of which defined benefit plan obligation 4 004 76 - 4 080
Retirement Obligations
The post-employment benefits are categorized as either
defined contribution plans or defined benefit plans.
The retirement plans based on defined contributions
are plans for which the organization pays determined
contributions to a separate entity in accordance with
the plan provisions. The Group has no obligation beyond
these contribution payments.
The contributions paid for these plans amounted
respectively to EUR 809 thousand in 2012, EUR 948
thousand in 2011 and EUR 988 thousand in 2010.
These plans are primarily offered by Belgian, British
and South African companies within the Hamon Group.
The defined benefit plans require the accounting for
the obligations of the Company towards its employees
in its financial statements. These benefits are granted
by some Belgian, German, French, Indian, Indonesian
and Korean companies. The net obligations resulting
from these plans and their changes are subject to a
yearly actuarial review.