annual_repport_staatsolie_2016_lr

More documents

Recommendations

Info

Annual REPORT Confidence in Our Own Abilities 54 The benefit obligation and plan assets associated with the benefit plans are measured on December 31, as follows: Pension benefits Insured pension benefits Postretirement health care 2016 2015 2016 2015 2016 2015 Benefit obligation as at December 31 Fair value of plan assets as at December 31 Funded status as at December 31 (139,070) (124,930) (596) (626) (21,834) (16,165) 104,949 93,256 - - 6,393 6,049 (34,121) (31,674) (596) (626) (15,441) (10,116) (in %) Pension benefits Insured pension benefits Postretirement health care Actuarial assumptions 2016 2015 2016 2015 2016 2015 Price inflation 3.00 3.00 3.00 3.00 3.00 3.00 Actuarial discount rate 4.50 4.50 4.50 4.50 4.50 4.50 Expected return on plan assets 6.50 6.50 - - 6.50 6.50 Adjustment for inflation and salary developments 3.00 3.00 3.00 3.00 - - Average Merit 1.50 1.50 1.50 1.50 - - Rate of benefit increase 2.50 2.50 - - - - Expected increase medical cost - - - - 5.00 5.00 The measurement of the accumulated postretirement benefit obligation assumes an initial health care cost trend rate of 5.0 percent. A one percentage point increase in the health care cost trend rate would increase service and interest cost by US$ 0.6 million and the accumulated postretirement benefit obligation by US$ 5.1 million (2015: US$ 3.9 million). A one percentage point decrease in the health care cost trend rate would decrease service and interest cost by US$ 0.5 million and the accumulated postretirement benefit obligation by US$ 3.9 million (2015: US$ 3.0 million). Pension benefits Health care 2016 2015 2016 2015 Employer's contribution (4,990) (4,539) - - Employee's contribution (1,663) (1,513) - - Benefits paid 947 747 103 86
Annual REPORT Confidence in Our Own Abilities 55 Pension benefits Insured pension benefits Postretirement health care As at December 31 2015 2016 2017 2015 2016 2017 2015 2016 2017 Service costs (5,719) (6,447) (7,158) (27) (32) (28) (1,005) (907) (1,249) Interest costs (4,816) (5,622) (6,258) (24) (28) (27) (800) (722) (975) Return on assets 5,696 6,236 7,007 - - - 367 393 416 Unrecognized transition costs (21) (21) (21) - - - (121) (121) (121) Unrecognized prior service (176) (176) (176) - - - - - - Unrecognized gains/(losses) (1,170) (1,611) (1,596) 57 49 63 - 14 (17) Net pension costs (6,206) (7,641) (8,202) 6 (11) 8 (1,559) (1,343) (1,946) Pension benefits Insured pension benefits Post retirement health care Change in Benefit Obligation 2016 2015 2016 2015 2016 2015 Benefit obligation as at January 1 (124,930) (107,023) (626) (526) (16,166) (17,892) Service costs (6,447) (5,718) (32) (28) (906) (1,005) Interest cost (5,622) (4,816) (28) (24) (722) (800) Benefits 947 747 90 - 112 166 Actuarial gains/(losses) (3,018) (8,120) - (48) (4,152) 3,366 Benefit obligation as at December 31 (139,070) (124,930) (596) (626) (21,834) (16,165) Pension benefits Post retirement health care Change in Plan Assets 2016 2015 2016 2015 Fair value of plan assets as at January 1 93,257 84,981 6,049 5,648 Contributions 7,569 6,129 230 228 Benefits paid (947) (747) (103) (86) Actual return on assets 5,070 2,893 217 260 Fair value of plan assets at December 31 104,949 93,256 6,393 6,050
Page 1:
annual report 2016 Confidence in Ou
Page 4 and 5: Vision • Leading the sustainable
Page 6 and 7: Annual REPORT Confidence in Our Own
Page 48 and 49: Confidence in Our Own Abilities 48
Page 70: Annual REPORT Confidence in Our Own
show all

annual_repport_staatsolie_2016_lr

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?