english - About Heraeus
english - About Heraeus
english - About Heraeus
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The pension commitments for the domestic companies are generally based on the following<br />
actuarial assumptions:<br />
Domestic Foreign<br />
in % 2012 2011 2012 2011<br />
Discount rate 3.5 4.5 1.1 – 7.0 1.3 – 7.75<br />
Salary trend (annual) 3.5 3.5 2.5 – 8.5 2.5 – 8.38<br />
Pension adjustment (annual) 1.0 – 1.5 1.0 – 1.5 2.0 – 3.1 2.0 – 3.1<br />
Anticipated plan asset earnings (annual) 3.5 4.5 3.5 – 6.25 3.65 – 7.75<br />
The discount rate was calculated on the basis of the specifications set forth in IAS 19.78<br />
to 19.82.<br />
The pension commitments for the domestic companies are generally based on the biometric<br />
accounting principles of the new mortality tables “Richttafeln 2005 G” published<br />
by Prof. Dr. Klaus Heubeck. Country-specific biometric accounting principles are used<br />
to determine the obligations for foreign companies.<br />
The anticipated return on plan assets of the domestic companies is an average value that<br />
is determined by weighting each anticipated asset against its corresponding current<br />
value. In the case of the foreign companies, this determination was based on actuarial<br />
assumptions that are typical for those countries, with regard to the expected interest<br />
rates and dividend earnings, as well as the increase of the value of investments, after<br />
the deduction of directly attributable taxes and expenses.<br />
Provisions for pensions and similar obligations cover the pension commitments of the<br />
domestic and foreign companies and the commitments of a subsidiary in the USA for health<br />
care benefits of retirees. A discount rate of 3.91% (previous year: 4.60%) was used as a<br />
basis for this provision. The future increase in costs for health care was taken into account<br />
with an annual rate of 9.0% for the coming financial year (previous year: 9.5%) and rates<br />
of increase dropping gradually to 5.5% for subsequent financial years.<br />
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