DHL 2014 Annual Report Download - page 190

Quoted prices in an active market exist for around   (previ-
ous year:  ) of the total fair values of plan assets. Most of the
remain ing assets for which no such quoted market prices exist are
attributable as follows:   (previous year:  ) to real estate,  
(previous year:  ) to insurances,   (previous year:  ) to alter-
natives and   (previous year:  ) to other. 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 Germany, 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 to
reach the level of the present value of the benets (asset ceiling).
Apart from this, asset ceilings had no eect as at  December ,
as in the previous year. See the table under Note . for amounts
and changes compared with the previous year.
. Net pension provisions
Net pension provisions changed as follows:
 m
Germany  Other Total

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 0000
Transfers 5005
Acquisitions / divestitures 0000
Currency translation effects 0 25 0 25
Net pension provisions at  December 6,225 498 415 7,138

Net pension provisions at  January 4,479 181 358 5,018
Service cost 1 53 –35 41 59
Net interest cost 161 8 12 181
Remeasurements –106 297 –141 50
Employer contributions –143 – 83 –37 –263
Employee contributions 10 0 0 10
Benefit payments –134 0 –11 –145
Settlement payments 0000
Transfers 2013
Acquisitions / divestitures –3 0 –1 – 4
Currency translation effects 0 – 6 –7 –13
Net pension provisions at  December 4,319 362 215 4,896
1 Including 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
attributable to the Group’s expected direct benet payments and
 million to expected employer contributions to pension funds.
Deutsche Post  Group —  Annual Report
184