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106<br />
Note 18<br />
<strong>Kesko's</strong> <strong>year</strong> <strong>2007</strong><br />
Pension assets<br />
The Group operates several retirement plans. In Finland, employees' pension insurance is partly arranged with insurance companies and partly by the<br />
Kesko Pension Fund, whose department A granting additional benefits was closed on 9 May 1998. Pension plans arranged with the Kesko Pension<br />
Fund have been treated as defined benefit plans.<br />
As regards foreign subsidiaries, the plan adopted in the Norwegian subsidiary is classified as a defined benefit plan. Retirement plans in other foreign<br />
subsidiaries are arranged in accordance with local regulations and practices. They do not include any significant defined benefit pension plans.<br />
<strong>2007</strong> 2006<br />
€ million Finland Norway Finland Norway<br />
Obligation arising from plan at 31 December -560.6 -12.6 -440.9 -11.5<br />
Plan assets at 31 December 897.0 8.5 794.8 7.6<br />
Unrecognised actuarial profits/losses (-)/(+) -74.3 1.2 -134.4 1.4<br />
Net assets (+) /liabilities (-) recognised in the balance sheet* 262.1 -2.9 219.5 -2.4<br />
Obligation arising from plan at 1 January 440.9 11.5 426.8 9.2<br />
Current service cost 12.0 1.2 7.1 1.9<br />
Interest cost 24.8 0.5 20.6 0.4<br />
Benefits paid -26.7 -0.2 -25.6<br />
Actuarial losses 68.5 -0.8 11.9<br />
Others 41.1 0.4<br />
Obligation arising from plan at 31 December 560.6 12.6 440.9 11.5<br />
Plan assets at 1 January 794.8 7.6 628.7 7.2<br />
Expected return on plan assets 56.2 0.3 39.6 0.4<br />
Contributions to plan 16.1 0.9 -2.7<br />
Benefits paid -26.7 -0.2 -25.6<br />
Actuarial profits 11.8 0.1 154.8<br />
Others 44.8 -0.2<br />
Plan assets at 31 December 897.0 8.5 794.8 7.6<br />
Expense recognised in the income statement:<br />
Current service cost -12.0 -1.2 -7.1 -0.8<br />
Interest cost -24.8 -0.5 -20.6 -0.4<br />
Expected return on plan assets 56.2 0.3 39.6 0.4<br />
Change 3.8<br />
Actuarial profits (+) and losses (-) 3.3 -0.1 0.5<br />
Others -0.4<br />
Total expense recognised in the income statement 26.5 -1.5 12.4 -1.2<br />
Change in net assets recognised in the balance sheet:<br />
Beginning of the period 219.5 -2.3 209.8 -2.1<br />
Income/expenses recognised in the income statement 26.5 -1.5 12.4 -1.2<br />
Benefits paid from funds 0.1<br />
Contributions to plan 16.1 0.9 -2.7 0.8<br />
End of the period* 262.1 -2.9 219.5 -2.4
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