111
Principal actuarial assumptions as at the balance sheet date
The defined benefit plans in the Netherlands and the UK cover 86.8 per cent of the present value of the plan assets (2009: 88.8 per
cent) and 81.7 per cent of the present value of the defined benefit obligations (2009:86.3 per cent) as at 31 December 2010. For the
Netherlands and the UK the following actuarial assumptions apply as at 31 December 2010:
The Netherlands
UK
2010
2010
Discount rate as at 31 December
5.1
5.3
5.4
5.7
Expected return on plan assets as at 1 January
5.7
6.3
6.4
6.3
Future salary increases
3
3
4.6
4.8
Future pension increases
1.5
1.5
3
3
Medical cost trend rate
-
7
7
or the other defined benefit plans the following actuarial assumptions apply as per 31 December 2010:
Other Western,
Africa and the
Central and Eastern Europe
The Americas
Middle East
Asia Pacific
2010
2010
2010
2010
scount rate as at 31 December
2.4-5.8
3.3-5.6
7-7.6
5.3-7
7-10
11
-
'.pected return on plan assets
at 1 January
2.9-7.3
3.5-6.6
6.5-8.2
6.5
-
11
-
jture salary increases
1-10
1.5-3.5
3.8-5.5
2.5-5.5
5-10
11
-
iture pension increases
1-2.1
1-3
2.8-3
-
11
-
3.5-4.5
5.1
-
-
Assumptions regarding future mortality rates are based on published statistics and mortality tables, with a relevant age setback.
The overall expected long-term rate of return on assets is 6 per cent (2009: 6.1 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 no effect on the amounts recognised in profit or loss. A one percentage point change
assumed healthcare cost trend rates would not have any effect on profit or loss neither on the statement of financial position
at 31 December 2010.
ased on the most recent triannial review finalised in early 2010, Heineken has agreed a 12-year plan aimed at funding the recovery
i f the Scottish Newcastle pension fund through additional Company contributions. These could total GBP504 million of which
3P35 million was paid during 2010. As at 31 December 2010 the IAS 19 present value of the net obligations of the Scottish
awcastle pension fund represents a GBP409 million (EUR475 million) deficit. The next review of the funding position and the
covery plan will take place no later than around year-end 2012.
ie Group expects the 2011 contributions to be paid for the defined benefit plans to be in line with 2010, excluding the additional
3P35 million additional payment made to the UK pension fund in 2010.
istorical information
2010
esent value of the defined benefit obligation
iir value of plan assets
6,643
(5,646)
5,936
(4,858)
4,963
(4,231)
2,858
(2,535)
2,984
(2,397)
aficit in the plan
997
1,078
732
323
587
<perience adjustments arising on plan liabilities, losses/fgains)
(24)
320
(116)
r—i h-
T—1
00
(4)
(159)
nneken N.V. Annual Report 2010
