Airbus - Financial Statements 2022
2. Notes to the IFRS Consolidated Financial Statements Employees Costs and Benefits
For the UK schemes, the Self ‑ Administered Pensions S2 mortality tables based on year of birth (as published by the Institute of Actuaries) is used in conjunction with the results of an investigation into the actual mortality experience of scheme members. In France, Institute for French Statistics (“INSEE”) tables are applied.
Mortality tables — For the calculation of the German pension obligation, the “2018 G” mortality tables (generation tables) as developed by Professor Dr. Klaus Heubeck are applied, while the disability rates of the Heubeck Tables have been reduced to 30%, to align with actual observation.
Provision for retirement and deferred compensation plans The development of the provision for retirement and deferred compensation plans is set out below:
DBO
Plan assets
Participation in BAE Systems Pension Scheme in the UK
Participation in BAE Systems Pension Scheme in the UK
Pension plans of the Company
Pension plans of the Company
Total provisions
(In € million)
Total
Total
Balance at 1 January 2021
18,778
4,370
23,148
(9,896)
(3,272)
(13,168)
9,980
Service cost (including past service cost)
225
66
291
0
0
0
291
Interest cost and income
118
61
179
(69)
(45)
(114)
65
Remeasurements: actuarial (gains) and losses arising from changes in demographic assumptions
48
(6)
42
0
0
0
42
changes in financial assumptions
(1,378)
(75)
(1,453)
0
0
0
(1,453)
changes in experience adjustments
95
44
139
0
0
0
139
plan assets
0
0
0
(954)
(387)
(1,341)
(1,341)
Changes in consolidation, transfers and others
(12)
0
(12)
(14)
0
(14)
(26)
Benefits paid
(455)
(167)
(622)
156
167
323
(299)
Contributions by employer and other plan participants
117
1
118
(442)
(97)
(539)
(421)
Foreign currency translation adjustments
163
304
467
(134)
(238)
(372)
95
Balance at 31 December 2021
17,699
4,598
22,297 (11,353)
(3,872)
(15,225)
7,072
Service cost (including past service cost)
(25)
72
47
0
0
0
47
Interest cost and income
217
85
302
(141)
(72)
(213)
89
Remeasurements: actuarial (gains) and losses arising from changes in demographic assumptions
141
(3)
138
0
0
0
138
changes in financial assumptions
(5,246)
(2,056)
(7,302)
0
0
0
(7,302)
changes in experience adjustments
613
370
983
0
0
0
983
plan assets
0
0
0
1,911
740
2,651
2,651
Changes in consolidation, transfers and others
(34)
0
(34)
9
0
9
(25)
Benefits paid
(442)
(121)
(563)
159
121
280
(283)
Contributions by employer and other plan participants
80
1
81
(348)
(254)
(602)
(521)
Foreign currency translation adjustments
(67)
(178)
(245)
80
183
263
18
Balance at 31 December 2022
12,936
2,768 15,704 (9,683)
(3,154)
(12,837)
2,867
The figures shown in the table include the surplus in two pension funds in the UK, resulting from a defined benefit obligation and assets of €3,867 million and €4,509 million that have been accounted as a non ‑ current asset.
In the figures shown in the table, amounts of €1,715 million and €1,508 million are included for the defined benefit obligation and plan assets for deferred compensation plans in Germany (2021: €2,503 million and €1,682 million).
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