DHL 2012 Annual Report Download - page 184
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. Actuarial assumptions
e majority of the Group’s dened benet obligations relate
to plans in Germany and the . In addition, signicant pension
plans are provided in other euro zone countries, Switzerland and
the . e actuarial measurement of the main benet plans was
based on the following assumptions:
Germany
Other
euro zone Switzerland
December
Discount rate 3.70 4.50 3.70 1.75 4.00
Rate of future salary increase 2.50 3.50 2.12 2.25 –
Future inflation rate 2.00 3.00 2.00 1.25 –
December
Discount rate 4.75 4.75 4.75 2.50 4.75
Rate of future salary increase 2.50 3.49 2.15 2.75 –
Future inflation rate 2.00 3.00 2.00 1.50 –
For the German Group companies, life expectancy was cal-
culated using the Richttafeln 2005 G mortality tables published by
Klaus Heubeck. Life expectancy for the British pension plans was
based on the mortality rates used for the last funding valuation.
ese are based on plan-specic mortality analyses and include an
allowance for an expected increase in future life expectancy. Other
countries used their own mortality tables.
. Computation of expense for the period
e following average expected return on plan assets was
used to compute the expense for the period:
Germany
Other
euro zone Switzerland
January
Average expected return on plan assets 3.72 5.81 5.65 4.00 6.50
January
Average expected return on plan assets 4.15 6.25 5.69 4.25 7.00
e average expected return on plan assets was determined
by reference to long-term bond yields (government and corporate).
In this process, suitable risk premiums were applied on the basis of
historical market returns and current market expectations taking
plan asset structures into account.
Deutsche Post DHL Annual Report
180