BPCE - 2019 Universal Registration Document
5
FINANCIAL REPORT
IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2019
Change in plan assets
Post-employment defined-benefit plans
Other long-term employee benefits
Supplementary pension benefits and other
End-of-career awards
Long-service awards
Fiscal year 2019
Fiscal year 2018
in millions of euros
Fair value of plan assets at start of year
7,759
547
10
8,316
8,398
Interest income
143
8
151
131
Plan participant contributions
13
42
55
16
Benefits paid
(170)
(12)
(182)
(174)
Other items recorded in income Changes recorded in income
(1)
(1) 23
(1)
(15) 698
38
(28) (66)
Revaluation adjustments – return on plan assets Changes recognized directly in other comprehensive income not recyclable to profit or loss
7
705
698
7
705
(66)
Foreign exchange rate adjustments
4
4 6
10
Other changes
(3)
9
2
FAIR VALUE OF PLAN ASSETS AT END OF YEAR (1)
8,443
601
10
9,054
8,316
O/w €467 million in reimbursement rights included in supplementary retirement benefits and €28 million included in end-of-career benefits. (1)
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 expense recognized for defined-benefit plans 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 €182 million was charged against pension plan assets. Interest income on plan assets is calculated by applying the same discount rate as that used to discount commitments. The difference between the actual return at the balance sheet date and this interest income is a revaluation difference recorded in equity not recyclable to profit or loss for post-employment benefits.
Post-employment defined-benefit plans
Other long-term employee benefits
Fiscal year 2019
Fiscal year 2018
in millions of euros
Service cost
(45)
(39)
(84)
(143)
Net interest cost
6
(4)
2
(7) (3)
Other (o/w asset ceiling) Expense for the period
(27) (66)
(14) (57)
(41)
(123)
(153)
Benefits paid
70 55
62
132
136
Plan participant contributions
55
16
Change in provisions due to contributions
125
62
187
152
TOTAL
59
5
64
(1)
Gains and losses on defined-benefit plans recorded directly in other comprehensive income
Supplementary pension benefits and other
End-of-career awards
Fiscal year 2019
Fiscal year 2018
in millions of euros
Revaluation adjustments at start of period Revaluation adjustments over the period
309 355
(28)
281 445
405
90
(457)
Adjustments to asset ceiling
(203)
(203)
333
REVALUATION ADJUSTMENTS AT END OF PERIOD
461
62
523
281
292
UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE
www.groupebpce.com
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