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AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 52 l
Notes to the IFRSConsolidatedFinancialStatements
2.6 Employees Costs and Benefits
The fair value of the plan assets for retirement plans and deferred compensation can be allocated to the following classes:
(In € million)
Quoted
prices
Unquoted
prices Total
Quoted
prices Unquoted
prices Total
Equity securities    
Europe 990 0990 1,086 01,086
Rest of the world 0 0 0 102 0102
Emerging markets 221 0221 248 0248
Global 1,454 01,454 1,452 01,452
Bonds    
Corporates 1,549 01,549 2,289 02,289
Governments 1,715 01,715 1,317 01,317
Pooled investment vehicles 273 0273 310 15 325
Commodities 119 0119 176 0176
Hedge funds 251 0251 121 0121
Derivatives 0(58) (58) 0(47) (47)
Property 331 4335 346 5351
Cash and money market funds 48 048 197 0197
Others 252 (64) 188 2(143) (141)
7,2 03 (118) 7,085 7,646 (170) 7,476
31December 2015 31December 2014
The majority of funded plans apply broadly an asset-liability
matching (ALM) framework. The strategic asset allocation
(SAA) of the plans takes into account the characteristics of
the underlying obligations. Investments are widely diversified,
such that the failure of any single investment would not have a
material impact on the overall level of assets. A large portion of
assets in 2015 consists of fixed income instruments, equities,
and although the Group also invests in property, commodities
and hedge funds. The Group is reassessing the characteristics
of the pension obligations from time to time or as required by the
applicable regulation or governance framework. This typically
triggers a subsequent review of the SAA.
The amount recorded as provision in the Consolidated Statement of Financial Position can be allocated to the significant countries
as follows:
RECOGNISED PROVISION FOR RETIREMENT PLANS
(In € million)
Pension plans of the Group Share of multiemployer
plan in the UK Total
Germany France UK Others
Defined benefit obligation 8,144 1,561 909 11 4,337 14,962
Plan assets 3,392 17 828 03,158 7,395
Recognised in the statements of financial
position as of 31December 2014 4,752 1,544 81 11 1,179 7,5 67
Defined benefit obligation 7,79 3 1,545 1,044 10 3,447 13,839
Plan assets 3,464 17 950 02,541 6,972
Recognised in the statements of financial
position as of 31December 2015 4,329 1,528 94 10 906 6,867
Employer’s contribution to state and private pension plans, mainly in Germany and France, are to be considered as defined
contribution plans. Contributions in 2015 amount to € 689million (in 2014: € 674million).
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015