91 Heineken N.V. Annual Report 2004 Financial Statements 2004 Notes to the Consolidated Balance Sheet
Employee benefits Promised pension Other deferred Total
arrangements benefits
Change in accounting policies
661
47
708
Changes in the consolidation
-
-1
-1
Costs charged to the profit and loss account
96
10
106
Utilised
-123
-10
-133
Position as at 31 December 2004
634
46
680
The promised pension arrangements relate mainly
to pension schemes in the Netherlands, Greece, Austria,
Ireland and Nigeria.
2004
Costs charged to the profit and loss account
Increase in net present value of pension rights
80
Interest charges relating to pension liabilities
132
Expected investment yield
-105
Effect of restrictions to and termination of schemes
-11
96
Principal actuarial assumptions
For the adoption of Guidelines for Annual Reporting in the Netherlands, GAR 271 'Employee benefits',
the following actuarial assumptions and were made in calculating the staff provisions as at 1 January
2004 for the 2004 financial year:
at 1 January 2004 and 31 December 2004
in percentage
Discount factor
3.5
- 19
Expected investment yield
4.0
- 6.6
Future pay increases
2.1
- 17.0
Future pension increases
1.5
- 2.5
Medical costs percentage
5.0
