NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED HEINEKEN N.V. ANNUAL REPORT 20( 8 26. Employee benefits Principal actuarial assumptions as at the balance sheet date The defined benefit plans in the Netherlands and the UK cover 88.6 per cent of the present value of the plan assets, 83.5 per cent of the present value of the defined benefit obligations and 54.3 per cent of the deficit in the plans as per 31 December 2008. For the Netherlands and the UK the following actuarial assumptions apply as per 31 December 2008: The Netherlands UK 2008 2007 2008 2007 Discount rate as at 31 December 5.6 5.5 6.7 - Expected return on plan assets as at 1 January 5.9 5.5 5.7 Future salary increases 3 3 4 Future pension increases 1.5 2 2.8 Medical cost trend rate - 7 For the other defined benefit plans the following actuarial assumptions apply as per 31 December 2008: Other Western, Central and Eastern Europe The Americas Africa and the Middle East Asia Pacific 2008 2007 2008 2007 2008 2007 2008 2007 Discount rate as at 31 December 4.5-6.2 4.5-5.7 5.5-6.5 5.5-6.5 12 4.6-15 2.5-12 3.5-9.5 Expected return on plan assets as at 1 January 4.5-7 1.5-6.6 6.5 6.5 4.6 4.6 2.5-8 3.5-8 Future salary increases 2.9-12 2.5-9 0.5-5.5 0.5-5.5 11 3-14 3-10 3-6.5 Future pension increases 1.5-5 1.5-2.5 3.5 3.5 - 2 8 6.5 Medical cost trend rate 1.5 1.5 5 5 - - Assumptions regarding future mortality rates are based on published statistics and mortality tables. The overall expected long-term rate of return on assets is 6.0 per cent (2007: 5.3 per cent), which is based on the asset mix and the expected rate of return on each major asset class, as managed by the pension funds. Assumed healthcare cost trend rates have nil effect on the amounts recognised in the income statement. A one percentage point change in assumed healthcare cost trend rates would not have any effect on the income statement neither on the balance sheet as per 31 December 2008. The Group expects the 2009 contributions to be paid for the defined benefit plans to be in line with 2008 and 2007, excluding the impact of acquisitions. Historical information In millions of EUR 2008 2007 2006 2005 Present value of the defined benefit obligation 4,963 2,858 2,984 3,061 Fair value of plan assets (4,231) (2,535) (2,397) (2,268) Deficit in the plan 732 323 587 793 Experience adjustments arising on plan liabilities, losses/(gains) 71 (4) (159) Experience adjustments arising on plan assets, (losses)/gains (817) 16 9

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2008 | | pagina 118