BPCE - 2020 Universal Registration Document

5

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2020

8.2.1

ANALYSIS OF EMPLOYEE-RELATED ASSETS AND LIABILITIES RECORDED IN 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

Other

12/31/2020

12/31/2019

in millions of euros

Actuarial liabilities

8,244

1,026 (609)

280 (10)

266

9,816

9,623

Fair value of plan assets

(8,019)

(8,638)

(8,559)

Fair value of reimbursement rights Effect of ceiling on plan assets

(476)

(29)

(505)

(495)

865 614

865

964

388

270

266

1,538

1,533

Net amount reported on the balance sheet Employee benefit commitments recorded in the balance sheet Plan assets recorded in the balance sheet (1)

1,090

417

270

266

2,043

2,028

476

29

505

495

Mostly recorded on the assets side of the balance sheet under “Accrued income and other assets”. (1)

Actuarial liabilities represent the Group’s obligation in respect of beneficiaries. They are calculated by independent actuaries using the projected unit credit method based on demographic and financial assumptions that are reviewed on a regular basis and at least once a year.

When these plans are funded by assets meeting the definition of plan assets, the amount of the provision corresponds to actuarial liabilities less the fair value of these assets. Plan assets no longer meeting the definition of plan assets are recorded under assets.

8.2.2 Changes in actuarial liabilities

CHANGES 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 2020

Fiscal year 2019

Other

in millions of euros

Actuarial liabilities at start of year

8,164

1,000

281

178

9,623

8,520

Service cost

15

58

20

19

112

112 (28) 149

Past service cost

(13)

3 6

1 1

(9) 80

Interest cost Benefits paid

73

(215)

(41)

(13)

(39)

(308)

(314)

Other items recorded in income Changes recorded in income

1

11 37

1

13

19

(139)

9

(19)

(112)

(62)

Revaluation adjustments – Demographic assumptions Revaluation adjustments – Financial assumptions Revaluation adjustments – Past-experience effect

(6)

(2)

(8)

(1)

303

44

347

1,214

(43)

(22)

(65)

(61)

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

254 (28)

20

274 (31)

1,152

Foreign exchange rate adjustments

(3)

4

Changes related to non-current assets held for sale (1)

(21)

(36)

(9) (1)

(3)

(69) 131

Other changes (2)

14

5

113 266

9

ACTUARIAL LIABILITIES AT END OF YEAR

8,244

1,026

280

9,816

9,623

Deconsolidation of Coface recognized under IFRS 5 using the equity method. (1) Including €115 million in term savings accounts reclassified as long-term benefits. (2)

314

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

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