BPCE - 2019 Universal Registration Document

FINANCIAL REPORT

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

8.2.2 Changes in actuarial liabilities

CHANGE IN AMOUNTS RECOGNIZED ON THE BALANCE SHEET

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

Other

in millions of euros

Actuarial liabilities at start of year

908

337

71

162

1,478

1,549

Service cost

13 (6) 22

20

6

29 (5)

68

108

Past service cost

(17)

(2)

(30)

(2) 26

Interest cost Benefits paid

4

1

27

(36)

(18)

(4)

(47)

(105)

(115)

Other items recorded in income Changes recorded in income

1

(7)

6 7

1

1

(3) 14 (8)

(6) (3)

(18)

(22)

(39)

Revaluation adjustments – demographic assumptions Revaluation adjustments – financial assumptions Revaluation adjustments – past-experience effect Changes recognized directly in other comprehensive income not recyclable to profit or loss

1

(2)

142

28 (4)

170

(61) (23)

16

12

155

25

180

(92)

Foreign exchange rate adjustments

4

4

12 (5)

Other changes

11

5

(2) 76

1

15

ACTUARIAL LIABILITIES AT END OF YEAR

1,072

349

141

1,638

1,478

Change in plan assets

Post-employment defined-benefit plans

5

Supplementary pension benefits and other

End-of-career awards

Fiscal year 2019 Fiscal year 2018

in millions of euros

Fair value of plan assets at start of year

764

174

938

974

Interest income

18 13

2 7

20 20

19 13

Plan participant contributions

Benefits paid

(32)

(4)

(36)

(34)

Other items recorded in income Changes recorded in income

(1) (3)

(1) 65

5 3

4

Revaluation adjustments – return on plan assets

68

(31)

Changes recognized directly in other comprehensive income not recyclable to profit or loss

65

3

68

(31)

Foreign exchange rate adjustments

4 1

4 1

10

Other changes

(12) 938

833

182

1,015

FAIR VALUE OF PLAN ASSETS AT END OF YEAR (1)

o/w €43 million in reimbursement rights included in retirement benefits and €28 million included in end-of-career benefits. (1)

Amounts paid in cash to beneficiaries reduce the amount of provisions recorded to this end by an equivalent amount. A total of €36 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.

437

UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE