-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Report of the
Report of the
Contents
Overview
Executive Board
Supervisory Board
Financial
statements
Other
information
In other countries, the pension plans are defined contribution plans and/or similar arrangements for employees.
Other long-term employee benefits mainly relate to long-term bonus plans, termination benefits, medical plans and jubilee benefits.
Movement in net defined benefit obligation
The movement in the defined benefit obligation over the year is as follows:
Present value of Fair value of defined Present value
defined benefit obligations benefit plan assets of net obligations
In millions of EUR Note
2014
2013
2014
2013
2014
2013
Balance as at 1 January
7,674
7,844
(6,553)
(6,401)
1,121
1,443
Included in profit or loss
Current service cost
75
80
75
80
Past service cost/(credit)
(103)
(42)
(103)
(42)
Administration expense
4
3
4
3
Effect of any settlement
(7)
(7)
Expense recognised
in personnel expenses
(35)
38
4
3
(31)
41
Interest expense/fincome) 12
326
288
(277)
(232)
49
56
291
326
(273)
(229)
18
97
Included in OCI
Remeasurement loss/(gain):
Actuarial loss/(gain) arising from
Demographic assumptions
12
16
12
16
Financial assumptions
1,185
(167)
1,185
(167)
Experience adjustments
(112)
(6)
(112)
(6)
Return on plan assets
excluding interest income
(645)
(106)
(645)
(106)
Effect of movements
in exchange rates
257
(100)
(225)
76
32
(24)
1,342
(257)
(870)
(30)
472
(287)
Other
Changes in consolidation
and reclassification
(86)
48
32
5
(54)
53
Contributions paid:
By the employer
(195)
(185)
(195)
(185)
By the plan participants
26
26
(26)
(26)
Benefits paid
(338)
(313)
338
313
(398)
(239)
149
107
(249)
(132)
Balance as at 31 December
8,909
7,674
(7,547)
(6,553)
1,362
1,121
The defined benefit plan in the Netherlands was amended to reflect changes in legal reguirements. From 1 January 2015, the annual accrual
rate was reduced to the legal maximum rate of 1.875 percent and a salary cap was introduced. As a result, the defined benefit obligation
in the Dutch plan decreased by EUR88 million. A corresponding past service credit was recognised in profit or loss during 2014
107
Heineken N.V. Annual Report 2014
