|
Figures in € thousand |
31.12.2013 |
31.12.2012 |
|
Provisions for pension |
391,952 |
365,177 |
|
Provisions for severance payments |
194,805 |
201,443 |
|
Total |
586,757 |
566,620 |
|
Figures in € thousand |
2013 |
2012 |
|
As at 1.1. |
566,620 |
593,019 |
|
Change in consolidation scope |
0 |
–123,915 |
|
Currency translation changes |
–11 |
25 |
|
Withdrawals for payments |
–69,805 |
–79,740 |
|
Expenditure in the financial year |
56,853 |
44,778 |
|
Actuarial profit and loss not affecting income |
33,100 |
132,453 |
|
of which based on demographic assumptions |
265 |
|
|
of which based on financial assumptions |
22,532 |
|
|
of which experience based assumptions |
10,302 |
|
|
As at 31.12. |
586,757 |
566,620 |
|
Average weighted remaining term |
Pension schemes |
Pension payments |
Severance payments |
|
In years |
27.6 |
13.6 |
5.9 |
|
Defined benefit obligation |
2013 |
2012 |
|
Figures in € thousand |
|
|
|
As at 1.1. |
630,834 |
652,122 |
|
Current service cost |
52,350 |
42,746 |
|
Interest cost |
18,265 |
21,125 |
|
Payments |
–69,805 |
–79,740 |
|
Disposal (including consolidated companies) |
–15,069 |
–128,307 |
|
Remeasurement on DBO - gain/loss |
32,997 |
122,888 |
|
of which based on demographic assumptions |
10,302 |
21,031 |
|
of which based on financial assumptions |
265 |
–23 |
|
of which experience based assumptions |
22,429 |
101,879 |
|
As at 31.12. |
649,573 |
630,834 |
|
Sensivity analysis |
Pension schemes |
Pension payments |
Severance payments |
|
Figures in per cent |
|||
|
Retirement age |
|
|
|
|
Change in DBO (+3 years) |
–6.8 |
–1.5 |
–3.9 |
|
Average remaining Life Expectancy |
|
|
|
|
Change in DBO (+1 year) |
2.8 |
3.9 |
|
|
Change in DBO (–1 year) |
–3.0 |
–4.1 |
|
|
Technical rate of interest |
|
|
|
|
Change in DBO (+1%) |
–24.0 |
–11.5 |
–8.1 |
|
Change in DBO (–1%) |
34.2 |
14.3 |
9.2 |
|
Future salary Increase Delta |
|
|
|
|
Change in DBO (+0.75%) |
4.0 |
0.4 |
6.7 |
|
Change in DBO (–0.75%) |
–3.7 |
–0.4 |
–6.2 |
|
Future pension Increase |
|
|
|
|
Change in DBO (+0.25%) |
4.1 |
2.8 |
|
|
Change in DBO (–0.25%) |
–3.9 |
–2.7 |
|
Active special policyholders with direct assurances of pension benefits, including members of the Management Board and executives in accordance with Section 80 paragraph 1 of the Stock Corporation Act, as well as active employees with direct assurances of pension benefits according to the "trade association recommendation for in-house and field sales staff” who, in 2008 and 2011, approved the offer to transfer existing vested pension rights to Valida Pension AG (formerly ÖPAG Pensionskassen AG) on the basis of concluded works agreements, are included in a contribution-based pension fund. The corresponding transfer amounts (the assurance cover) were paid to Valida Pension AG in 2008 and 2011 in accordance with Section 48 of the Pension Fund Act. For the purpose of guaranteeing the level of the pension fund pension according to the previous direct assurances to pension benefits, those entitled to vested rights have a claim to payment of a (one-time) final pension fund contribution at the time of pension eligibility. No contributions are made for the benefit phase.
The UNIQA Group’s repositioning led to an expected reduction of staff, which is covered by provisions for so-called “social capital” amounting to € 26,136 thousand (2012: € 49,147 thousand).
|
Calculation factors applied |
2013 |
2012 |
|
Figures in per cent |
|
|
|
Technical rate of interest |
3.00% |
3.25% |
|
Valorisation of wages and salaries |
3.00% |
3.00% |
|
Valorisation of pensions |
2.00% |
2.00% |
|
Employee turnover rate |
dependent on years of service |
dependent on years of service |
|
Accounting principles |
AVÖ 2008 P – |
AVÖ 2008 P – |
|
Specification of pension expenditures for pensions and similar commitments included in the income statement |
31.12.2013 |
31.12.2012 |
|
Figures in € thousand |
|
|
|
Current service cost |
38,794 |
23,917 |
|
Interest cost |
18,259 |
20,871 |
|
Income and expenditures due to budget changes |
–201 |
–10 |
|
Total |
56,853 |
44,778 |
|
Development of plan assets of pension provisions |
2013 |
|
Market value of plan assets as at 1.1. |
64,214 |
|
Interest income |
2,135 |
|
Fund allocation |
8,586 |
|
Payments |
–10,244 |
|
Periodic increase/(decrease) of OCI |
–1,876 |
|
Plan assets at fair value as at 31.12. |
62,816 |
|
Categories of Plan assets |
|
|
Figures in per cent |
|
|
Bonds - euro |
28.6 |
|
Bonds - euro high yield |
5.1 |
|
Corporate bonds - euro |
18.1 |
|
Shares - euro |
8.3 |
|
Shares - non-euro |
7.7 |
|
Shares - emerging markets |
2.0 |
|
Alternative investment securities |
3.1 |
|
Real estate |
1.9 |
|
Synthetic cash |
3.3 |
|
Bonds HTM / term deposit |
22.0 |
|
Total |
100.0 |
Under the contribution-orientated company pension scheme, the employer pays the fixed amounts into company pension funds. The employer has satisfied his obligation by making these contributions.
|
Figures in € thousand |
31.12.2013 |
31.12.2012 |
|
Contributions to company pension funds |
2,199 |
2,257 |
