AIRBUS - 2020 Financial Statement

2. Notes to the IFRS Consolidated Financial Statements / 2.6 Employees Costs and Benefits

The funding of the plans is as follows:

31 December

2020

2019

DBO

Plan assets

DBO

Plan assets

(In € million)

Unfunded pension plans

1,716

0

2,530

0

21,432

(13,168)

18,486

(12,663)

Funded pension plans (partial)

Total

23,148

(13,168)

21,016

(12,663)

As of 31 December 2020, the change in financial assumptions mainly due to the further weakening of interest rates in Germany, France, Canada and the UK resulted in a total net increase in pension liability of €2,223 million. In 2020, contributions for retirement and deferred compensation plans amount to €331 million. This consists of: – payments made to the pension and deferred compensation plans of the Company of €250 million (2019: €1,669 million), mainly relating to the Contractual Trust Arrangement in Germany of € 175 million (2019: € 1,593 million) as well as to the Company UK scheme €55 million (2019: €59 million);

– payments made to the participation in BAE Systems Pension Scheme in the UK of €81 million (2019: €89 million). Contributions of approximately €677 million are expected to be made in 2021. The weighted average duration of the DBO for retirement plans and deferred compensation is 19 years at 31 December 2020 (31 December 2019: 18 years).

Pension obligations by countries and type of beneficiaries The split of the DBO for retirement plans and deferred compensation between active, deferred and pensioner members for the most significant plans is as follows:

Active

Deferred

Pensioner

Germany

56%

8%

36%

France

99%

0%

1%

UK

65%

17%

18%

Participation in BAE System Pension Scheme (Main Scheme)

51%

16%

33%

Canada

88%

1%

11%

2

Pension obligations by countries and type of plans The split of the present value of DBO for retirement plans and deferred compensation for the most significant plans is as follows:

Present value of DBO

Plan assets

Deferred Compensation plans

Deferred Compensation plans

Retirement plans

Retirement plans

Germany

82%

18%

82%

18%

France

100%

-

100%

-

UK

100%

-

100%

-

Participation in BAE System Pension Scheme (Main Scheme)

100%

-

100%

-

Canada

100%

-

100%

-

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Airbus / Financial Statements 2020