BPCE - 2020 Universal Registration Document

FINANCIAL REPORT

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

Change in plan assets

Post-employment defined-benefit plans

Supplementary pension benefits and other

End-of-career awards

Fiscal year 2020 Fiscal year 2019

in millions of euros

Fair value of plan assets at start of year

833

182

1,015

938

Interest income

12 14

1

13 14

20 20

Plan participant contributions

Benefits paid

(38)

1 1 3 4

(37)

(36)

Other items recorded in income Changes recorded in income

(3)

(2)

(15)

(12)

4

Revaluation adjustments – Return on plan assets

53

57

68

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

53

4

57

68

Foreign exchange rate adjustments

(24)

(24)

4

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

(1) (3)

(1) 10

(2)

Other changes

7

1

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

843

198

1,041

1,015

Deconsolidation of Coface, recognized under IFRS 5 using the equity method. (1) o/w €50 million in reimbursement rights included in supplementary retirement benefits and €29 million included in end-of-career benefits. (2)

Amounts paid in cash to beneficiaries reduce the amount of provisions recorded to this end by an equivalent amount. A total of €37 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.

5

EXPENSES FOR DEFINED-BENEFIT PENSION PLANS AND OTHER LONG-TERM EMPLOYEE BENEFITS 8.2.3 Expenses for defined-benefit pension plans and other long-term employee benefits The various components of the expense recognized for defined-benefit plans and other long-term employee benefits are included under “Payroll costs”.

Post-employment defined-benefit plans

Other long-term employee

benefits Fiscal year 2020 Fiscal year 2019

in millions of euros

Service cost

(19)

(25)

(44)

(38)

Net interest cost

(4) (6)

(4) (7)

(7) (1)

Other (o/w asset ceiling) Expense for the period

(1)

(29)

(26)

(55)

(46)

Benefits paid

18 14 32

42

60 14 74 19

69 20 89 43

Plan participant contributions

Change in provisions due to contributions

42 16

TOTAL

3

465

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE