For the Netherlands and the UK the following actuarial assumptions apply as at 31 December: The Netherlands UK 2011 2011* Discount rate as at 31 December 4.6 5.1 4.7 5.4 Expected return on plan assets as at 1 January 5.5 5.7 6.2 6.4 Future salary increases 3 3 - 4.6 Future pension increases 1 1.5 3 3 - - 7 *The UK plan closed for future accruals leading to certain assumptions being equal to zero. For the other defined benefit plans the following actuarial assumptions apply as per 31 December: Other Western, Central Africa and the and Eastern Europe The Americas Middle East 2011 2011 2011 Discount rate as at 31 December 2.9-4.8 2.4-5.8 7.6-10.7 7-7.6 13 7-10 Expected return on plan assets as at 1 January 3.3-7.3 2.9-7.3 7.6 6.5-8.2 - - Future salary increases 1-10 1-10 3.8 3.8-5.5 12 5-10 Future pension increases 1-2.1 1-2.1 2.9 2.8-3 - - 3.5 3.5-4.5 5.1 5.1 - Assumptions regarding future mortality rates are based on published statistics and mortality tables. For the Netherlands the rates are obtained from the AG-Prognosetafel 2010-2060', fully generational. Correction factors from TowersWatson are applied on these. For the UK the rates are obtained from the Continious Mortality Investigation 2011 projection model. The overall expected long-term rate of return on assets is 5.5 per cent (2010:6 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 in assumed healthcare cost trend rates would not have any effect on profit or loss neither on the statement of financial position as at 31 December 2011 Based on the most recent triannual review finalised in early 2010, HEINEKEN has agreed a 12-year plan aiming to fund the recovery of the Scottish Newcastle pension fund through additional Company contributions. These could total GBP504 million of which GBP35 million has been paid to December 2011As at 31 December 2011 the IAS 19 present value of the net obligations of the Scottish Newcastle pension fund represents a GBP465 million (EUR557 million) deficit. No additional liability has to be recognised as the net present value of the minimum funding requirement does not exceed the net obligation. The start of the next review of the funding position and the recovery plan will take place no later than around year-end 2012 and is not expected to be finalised beginning 2013. The Group expects the 2012 contributions to be paid for the defined benefit plan to be in line with 2011 Historical information 2011 Present value of the defined benefit obligation 6,900 6,643 5,936 4,963 2,858 Fair value of plan assets (5,860) (5,646) (4,858) (4,231) (2,535) Deficit in the plan 1,040 997 1,078 732 323 Experience adjustments arising on plan liabilities, losses/(gains) (30) (24) (116) 71 (4) (15) 320 313 (817) 16 Heineken N.V. Annual Report 2011 121

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2011 | | pagina 123