BPCE - 2018 Registration document
5 FINANCIAL REPORT
BPCE parent company annual financial statements
Analysis of expense for the year
Other long-term employee benefits
Other long-term employee benefits
Post-employment defined-benefit plans
Post-employment defined-benefit plans
Supple- mentary pension benefits and other
Supple- mentary pension benefits and other
Long- service awards
End-of- career awards
Long- service awards
End-of- career awards
CGPCE Plan
CARBP Plan
CGPCE Plan
CARBP Plan
12/31/2018
12/31/2017
in millions of euros
Service cost
7
4
11
8
4
12
Service cost for prior periods
0 6
0 6
Interest cost
2
4
2
4
Interest income Actuarial gains recognized in income
(2)
(3)
(5)
(2)
(2)
(4)
0 4
0 2
Other
1 9
3 7
1
1 5
TOTAL
0
0
0
16
0
0
11
0
16
Main actuarial assumptions
12/31/2018
12/31/2017
Other long-term employee benefits
Other long-term employee benefits
Post-employment defined-benefit plans
Post-employment defined-benefit plans
Supple- mentary pension benefits and other 1.19% – 1.86%
Supple- mentary pension benefits and other 0.89% – 1.47%
End-of- career awards 0.29% – 1.6%
Long- service awards
End-of- career awards
Long- service awards
CGPCE Plan
CARBP Plan
CGPCE Plan
CARBP Plan
as a %
0.45% – 1.05% 1.58% 1.32%
0.01% – 1.34%
0.09% – 0.78%
Discount rate Inflation rate
1.82% 1.56%
1.70% 1.70% 1.70% 1.70% 1.70% 1.70% 1.70% 1.70% 1.70% 1.70%
Wage growth rate
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
inflation – 1% to 0.50% TGH05/ TGF05
inflation – 1% TGH05/ TGF05
inflation
inflation
AGIRC – ARRCO revaluation rate
N/A
– 1% N/A
N/A
N/A
– 1% N/A
N/A
TGH05/ TGF05
TGH05/ TGF05
TGH05/ TGF05
TGH05/ TGF05
TGH05/ TGF05
TGH05/ TGF05 10.1 to 19.9
TGH05/ TGF05
TGH05/ TGF05
Life tables used
9.7 to 19.5
3.9 to 14.3
4.8 to 8.6
4.8 to 14.9
4.7 to 9.2
Duration
17.5
13.8
18.4
14.5
In 2018, of the - € 0.8 million in actuarial gains and losses generated for CARBP, - € 0.6 million was from gains and losses related to the updated financial assumptions, and - € 0.2 million from experience adjustments. The life tables used are: TGH05/TGF05 for termination benefits, long service awards and ● other benefits, as well as for CGPCE and CARBP. The discount rate used is based on the prime borrower curve (EUR Composite AA curve). Stock option purchase plans Since the formation of BPCE, company directors have neither received share subscription or purchase options, nor been awarded bonus shares.
At December 31, 2018, pension plan assets were allocated as follows: for the Caisse d’Epargne CGPCE pension plan: 88.3% in bonds, 9.3% ● in equities, 2% in real estate assets and 0.4% in money-market assets. In 2018, of the - € 6.5 million in actuarial gains and losses generated for CGPCE, - € 4.9 million was from gains and losses related to the updated financial assumptions, and - € 1.6 million from experience adjustments: for the Banque Populaire banks’ CARBP pension plan: 46.1% in ● bonds, 39.3% in equities, 9.2% in investment funds and 5.4% in money-market assets.
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Registration document 2018
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