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Financial review 2010
Movements in the fair value of plan assets
The composition and changes were as follows:
EUR’000
2010 2009
Fair value of plan assets as at January 1 (38,969) (32,699)
Net transfers (in) / out 0 (604)
Benefits paid by the plan 1,800 1,508
Employer contributions (3,282) (3,540)
Plan participants contributions (234) (204)
Expected return on plan assets (1,682) (1,521)
Effect of movements in exchange rates (193) (343)
Actuarial (gains) / losses (1,821) (1,566)
Fair value of plan assets as at december 31 (44,381) (38,969)
The weighted average returns for the Netherlands, Germany and UK are based on the strategic asset mixes
and the corresponding yields for each asset category.
Expenses recognized in the income statement
The composition was as follows:
2010 2009
EUR’000
note
Current service costs 2,351 2,280
Interest on benefit obligations 2,899 2,595
Expected return on plan assets (1,682) (1,521)
Amortization of past service cost including §58A 11 11
Effect of §58(b) limit 391 (396)
Recognized actuarial losses / (gains) including §58A 16 339
Pension costs of defined benefit schemes 3,986 3,308
Pension contributions to defined contribution schemes 1,126 1,003
Total pension costs 5.3 5,112 4,311
The pensions costs are recognized in the employee benefits expense.
The actual return on plan assets was EUR 3,504,000 positive (2009: EUR 3,086,000 positive).