english - About Heraeus

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