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Annual report 2011
82
5.3 Retirement benefit obligations
The retirement benefit obligation comprises the pension scheme and the health insurance scheme as follows:
EUR
Retirement benefit obligations
31.12.2011
31.12.2010
Pension scheme
31 544 130
23 438 632
Health insurance scheme
3 260 000
2 365 000
34 804 130
25 803 632
Commitments in respect of retirement benefits as of 31 December, 2011 have been valued by an independent actu-
ary. The calculations are based on the following main assumptions:
EUR
Principal Assumptions
2011
2010
Discount rate for obligations
5.58%
5.06%
Rate of future compensation increases
4.50%
4.50%
Rate of pension increases
2.00%
2.00%
Actuarial tables
ICSLT
ICSLT
The pension commi tment as valued in the independent actuar y repor t dated Februar y 2012 amounts to
EUR 31 544 130. As of December 2011 the Fund allocated EUR 35 594 410 (2010: EUR 27 445 003) to pensions
assets to ensure full coverage of the commitments.