BPCE - 2020 Universal Registration Document

5

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF BPCE SA GROUP 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

1,021 (793)

341

71

232

1,665 (962)

1,638 (944)

Fair value of plan assets

(169)

Fair value of reimbursement rights Effect of ceiling on plan assets

(50)

(29)

(79)

(71)

17

17

18

195 245

143 172

71 71

232 232

641 720

641 712

Net amount reported on the balance sheet

Employee benefit commitments recorded in the balance sheet

Plan assets recorded in the balance sheet (1)

50

29

79

71

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

1,072

349

76

141

1,638

1,478

Service cost

11

21

6 1

18

56

68

Past service cost

(13)

(12)

(30)

Interest cost Benefits paid

15

2

17

27

(43)

(12)

(3)

(39)

(97)

(105)

Other items recorded in income Changes recorded in income

4

1

5

1

(30)

15 (1) 12 (5)

4

(20)

(31)

(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

(7) 30

(8) 42

(2)

170

8

3

12

31

6

37

180

Foreign exchange rate adjustments

(28) (21)

(3) (3)

(31) (69) 121

4

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

(36)

(9)

Other changes (2)

(3)

7

117 232

15

ACTUARIAL LIABILITIES AT END OF YEAR

1,021

341

71

1,665

1,638

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)

464

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

www.groupebpce.com