ING Direct 2009 Annual Report Download - page 146

Notes to the consolidated balance sheet of ING Group (continued)
2.1 Consolidated annual accounts
ING Group Annual Report 2009
144
Changes in other provisions
Litigation Other Total
2009 2008 2009 2008 2009 2008
Opening balance 371 229 598 552 969 781
Changes in the composition of the group 7–1 –35 8–28 7
Additions 24 202 247 313 271 515
Releases –3 –11 –6 –14 –6
Charges –109 –28 –347 –279 –456 –307
Exchange rate differences 1–6 6–15 7–21
Other changes 16 –25 –18 25 –2
Closing balance 307 371 440 598 747 969
In 2009 Other provisions includes the provision for the industry-wide deposit guarantee scheme in the Netherlands due to the bankruptcy
of DSB Bank.
Included in Other provisions in 2008 is a provision for a loss of EUR 292 million relating to the agreed disposal of ING Life Taiwan as
disclosed in Note 30 ‘Companies acquired and companies disposed’.
In general, Reorganisation and Other provisions are of a short-term nature.
The amounts included in other provisions are based on best estimates with regard to amounts and timing of cash flows required to settle
the obligation.
Pension and post-employment benefits
Summary of pension benefits
2009 2008 2007 2006 2005
Defined benefit obligation 14,209 14,271 14,499 15,758 15,782
Fair value of plan assets 15,310 13,366 14,708 14,361 12,937
–1,101 905 –209 1,397 2,845
Unrecognised past service costs –3 –5 –3
Unrecognised actuarial gains/(losses) –1,450 –2,072 198 –687 –1,778
–2,554 –1,172 –14 710 1,067
Presented as:
– Other liabilities 589 609 425 961 1,067
– Other assets –3,143 –1,781 –439 –251
–2,554 –1,172 –14 710 1,067
Summary of post-employment benefits
2009 2008 2007 2006 2005
Defined benefit obligation 156 210 220 239 441
156 210 220 239 441
Unrecognised past service costs 82 4 10 –6
Unrecognised actuarial gains/(losses) 11 7 8 –2 –27
175 219 232 247 408
Presented as:
– Other liabilities 175 219 232 247 408
175 219 232 247 408
The Group maintains defined benefit retirement plans in its major countries of operation. These plans generally cover all employees and
provide benefits that are related to the remuneration and service of employees upon retirement. The benefits in some of these plans are
subject to various forms of indexation. The indexation is, in some cases, at the discretion of management; in other cases it is dependent
upon the sufficiency of plan assets.
Annual contributions are paid to the funds at a rate necessary to adequately finance the accrued liabilities of the plans calculated in
accordance with local legal requirements. Plans in all countries comply with applicable local regulations governing investments and
funding levels.