DHL 2015 Annual Report Download - page 185

Deutsche Post  Group —  Annual Report
Quoted market prices in an active market exist for around   (pre-
vious year:  ) of the total fair values of plan assets. Most of the
remaining assets for which no such quoted market prices exist are
attributable as follows:   (previous year:  ) to real estate,  
(previous year:  ) to insurances and   (previous year:  ) to
alternatives. e majority of the investments on the active markets
are globally diversied, with country-specic focus areas.
Real estate with a fair value of , million (previous year:
, million) is used by Deutsche Post  itself. Otherwise, as in
the previous year, no plan assets were used by the Group and no
transferable own nancial instruments were held as plan assets.
Asset-liability studies are performed at regular intervals in Ger-
many, the  and, amongst other places, the Netherlands, Switzer-
land and the  to examine the match between assets and liabilities;
the strategic allocation of plan assets is adjusted in line with this.
. Effect of asset ceilings
In the  and Switzerland, the plan rules for one retirement plan in
each case required a surplus to be capped to a certain extent in the
previous year, so as to reach the level of the present value of the
future economic benets (asset ceiling). ese ceilings no longer
applied at  December  as legal clarication had been obtained
and / or the obligation had increased. Disclosures on the prior-year
amounts can be found in the table under Note ..
. Net pension provisions
Net pension provisions changed as follows:
 m
Germany  Other Total

Net pension provisions at  January 6,225 498 415 7,138
Service cost 1 147 7 44 198
Net interest cost 137 18 13 168
Remeasurements –724 –77 –32 –833
Employer contributions –391 –72 –34 – 497
Employee contributions 12 0 0 12
Benefit payments –141 1 –10 –150
Settlement payments 0 0 1 1
Transfers 0 0 0 0
Acquisitions / divestitures 0 0 0 0
Currency translation effects 0 17 16 33
Net pension provisions at  December 5,265 392 413 6,070

Net pension provisions at  January 4,319 362 215 4,896
Service cost 1 116 20 22 158
Net interest cost 159 16 9 184
Remeasurements 2,000 144 206 2,350
Employer contributions –194 – 69 –27 –290
Employee contributions 11 0 0 11
Benefit payments –191 0 –10 –201
Settlement payments 0 0 0 0
Transfers 5 0 0 5
Acquisitions / divestitures 0 0 0 0
Currency translation effects 0 25 0 25
Net pension provisions at  December 6,225 498 415 7,138
1 Including other administration costs in accordance with  . from plan assets.
Payments amounting to  million are expected with regard
tonet pension provisions in . Of this amount,  million is
attrib utable to the Group’s expected direct benet payments and
 million to expected employer contributions to pension funds.
175
Consolidated Financial Statements — NOTES — Balance sheet disclosures