BPCE - 2018 Registration document
FINANCIAL REPORT IFRS Consolidated Financial Statements of BPCE SA group as at December 31, 2018
Change in plan assets
Post-employment defined-benefit plans
Supplementary pension benefits and other
End-of-career awards
Fiscal year 2018
Fiscal year 2017
in millions of euros
Fair value of plan assets at start of year
798
176
974
847
Interest income
17 13
2
19 13
17
Plan participant contributions
141 (32)
Benefits paid
(29)
(5) (1) (4)
(34)
Other items recorded in income Changes recorded in income
(1) (3)
(2)
1
124
Revaluation adjustments – return on plan assets
(35)
4
(31)
32
Changes recognized directly in other comprehensive income not recyclable to income
(35)
4
(31)
32
Foreign exchange rate adjustments
10
10
(29)
Other changes
(10) 764
(2)
(12) 938
FAIR VALUE OF PLAN ASSETS AT END OF YEAR*
174
974
O/w €165 million in reimbursement rights included in retirement benefits and €29 million included in end-of-career benefits. *
Cost of defined-benefit pension plans and other long-term employee benefits Expenses for defined-benefit pension plans and other long-term employee benefits The various components of the charge recognized for defined-benefit plans and other long-term employee benefits are included under “Payroll costs”. 8.2.3
Amounts paid in cash to beneficiaries reduce the amount of provisions recorded to this end by an equivalent amount. A total of € 34 million was charged against pension plan assets. Returns on plan assets are calculated by applying the same discount rate as the one applied to gross liabilities. The difference between the actual return at the balance sheet date and this financial income is a revaluation difference recorded in equity for post-employment benefits.
5
Post-employment defined-benefit plans
Other long-term employee benefits
Fiscal year 2018
Fiscal year 2017
in millions of euros
Service cost
(31)
(75)
(106)
(41)
Net interest cost
(6) (4)
(1)
(7)
(8)
Other (o/w asset ceiling) Expense for the period
6
2
4
(41)
(70)
(111)
(45)
Benefits paid
23 13 36 (5)
58
81 13 94
73
Plan participant contributions
0
141 214 169
Change in provisions due to contributions
58
TOTAL
(12)
(17)
Gains and losses on defined-benefit plans recorded directly in other comprehensive income
Supplementary pension benefits and other
End-of-career awards
Fiscal year 2018
Fiscal year 2017
Revaluation adjustments at start of period Revaluation adjustments over the period
192 (32)
24
216 (61)
240 (18)
(29)
Adjustments to asset ceiling
11
11
(6)
REVALUATION ADJUSTMENTS AT END OF PERIOD
171
(5)
166
216
483
Registration document 2018
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