BPCE - 2019 Universal Registration Document

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2019

8.2.4 Main actuarial assumptions

OTHER INFORMATION

Fiscal year 2019

Fiscal year 2018

CAR-BP

CGP-CE

CAR-BP

CGP-CE

Discount rate Inflation rate Life tables used

0.62% 1.60%

0.86% 1.60%

1.56% 1.70%

1.82% 1.70%

TGH05-TGF05

TGH05-TGF05

TGH05-TGF05

TGH05-TGF05

Duration

14 years

18 years

14 years

18 years

Sensitivity of actuarial liabilities to changes in the principal assumptions At December 31, 2019, a 0.5% change in the discount rate and the inflation rate would have the following impact on actuarial liabilities:

12/31/2019

12/31/2018

CAR-BP

CGP-CE

CAR-BP

CGP-CE

% Amount

% Amount

% Amount

% Amount

as a% and in millions of euros

+0.5% increase in the discount rate -0.5% decrease in the discount rate +0.5% increase in the inflation rate -0.5% decrease in the inflation rate

(6.73%) 7.54% 6.88% (5.71%)

(57)

(8.48%) 9.68% 7.77% (7.03%)

(538)

(6.44%) 7.19% 6.65% (5.60%)

(50)

(8.07%) 9.17% 7.62% (6.90%)

(448)

64 59

614 493

56 52

509 423

(49)

(446)

(44)

(383)

Payment schedule – (non-discounted) amounts paid to beneficiaries

12/31/2019

12/31/2018

CAR-BP

CGP-CE

CAR-BP

CGP-CE

Year N+1 to N+5 Year N+6 to N+10 Year N+11 to N+15 Year N+16 to N+20

183 175 159 137 283

785 900 932 870

184 178 164 143 316

753 882 933 886

5

Year > N+20

2,368

2,528

Breakdown of fair value of CAR-BP plan assets (including reimbursement rights) and CGP-CE plan assets

12/31/2019

12/31/2018

CAR-BP

CGP-CE

CAR-BP

CGP-CE

Weighting by category

Fair value of plan assets

Weighting by category

Fair value of plan assets

Weighting by category

Fair value of plan assets

Weighting by category

Fair value of plan assets

as a% and in millions of euros

Cash

2.70% 42.20% 55.10%

13

1.10% 9.00%

80

5.45% 39.26% 46.07%

24

0.40% 9.31%

27

Equities

197 258

658

173 203

624

Bonds

87.90% 6,425

88.29% 5,916

Real estate

2.00%

146

2.00%

134

Investment funds

9.23%

41

TOTAL

100.00%

468 100.00% 7,310 100.00%

441 100.00% 6,701

293

UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE