Annual Report - EDP

notes to the consolidated EDP - and Energias company de Portugal, financial S.A. statementsfor the Notes years to the ended Consolidated 31 december and Company 2012 Financial and Statements 2011for the years ended 31 December 2012 and 2011As at 31 December 2012 and 2011 the number of participants covered by the pension plans was as follows:20122011Portugal Spain Brazil Portugal Spain BrazilNumber of participants:Retirees and pensioners 17,959 1,517 1,743 18,010 1,564 1,669Active workers 5,932 1,433 1,493 6,168 1,348 1,69023,891 2,950 3,236 24,178 2,912 3,359The following financial and actuarial assumptions were used to calculate the liability of the EDP Group pension plans and similar obligations:Dec 2012Portugal SpainBrazilBandeirante Escelsa EnergestAssumptionsExpected return of plan assets 3.25% not applicable 9.30% 9.30% 9.30%Discount rate 3.25% 3.35% 9.30% 9.30% 9.30%Salary increase rate 3.00% 3.00% 6.90% 6.90% 6.90%Pension increase rate 2.00% not applicable 5.00% 5.00% 5.00%Social Security salary appreciation2013 - 0% //After 2013 - not applicable not applicable not applicable not applicable1.9%Inflation rate 2.00% 2.25% 5.00% 5.00% 5.00%Mortality tableBorn=1950 --TV99/01PERM/F-2000PRP-2000GenerationalRP-2000GenerationalRP-2000GenerationalDisability table 50%EKV 80 not applicable Wyatt 85 Class 1 Wyatt 85 Class 1 Wyatt 85 Class 1Expected % of eligible employees acceptingearly retirement (a) not applicable not applicable not applicable not applicableDec 2011Portugal SpainBrazilBandeirante Escelsa EnergestAssumptionsExpected return of plan assets 5.00% not applicable 11.10% 11.10% 11.10%Discount rate 5.00% 5.40% 10.25% 10.25% 10.25%Salary increase rate 3.50%2.75% (IPC +0.5%) in all 7.59% 7.59% 7.59%yearsPension increase rate 2.50% not applicable 4.50% 4.50% 4.50%Social Security salary appreciation2012 - 0% //After 2012 - not applicable not applicable not applicable not applicable1.9%Inflation rate 2.00% 2.25% 4.50% 4.50% 4.50%Mortality tableBorn=1950 --TV99/01PERM/F-2000PRP-2000GenerationalRP-2000GenerationalRP-2000GenerationalDisability table 50%EKV 80 not applicable Wyatt 85 Class 1 Wyatt 85 Class 1 Wyatt 85 Class 1Expected % of eligible employees acceptingearly retirement (a) not applicable not applicable not applicable not applicable(a) 40% of the eligible population (employees entitled to early retirement, as stated in the Collective Labour Agreement: 36 years of service with at least 60 years ofage or 40 years of service at any age).The assumptions used in the calculation of the liability for employees defined benefit plans, were updated considering the evolutions occurred in the financial marketsduring 2012.226A World Full Of Energy