ING Direct 2009 Annual Report Download - page 147

Notes to the consolidated balance sheet of ING Group (continued)
2.1 Consolidated annual accounts
ING Group Annual Report 2009 145
The Group provides other post-employment employee benefits to certain employees and former employees. These are primarily post-
employment healthcare benefits and discounts on ING products provided to employees and former employees.
Certain group companies sponsor defined contribution pension plans. The assets of all ING Group’s defined contribution plans are held in
independently administered funds. Contributions are generally determined as a percentage of pay. These plans do not give rise to balance
sheet provisions, other than relating to short-term timing differences included in current liabilities. The amount incurred in 2009 was
EUR 81 million (2008: EUR 68 million).
Actuarial gains and losses related to pensions and post-employment benefits for the year ended 31 December 2009 include EUR 387
million (2008: EUR –2,647 million; 2007: EUR –789 million; 2006: EUR –180 million; 2005: EUR 873 million) experience gain adjustments
for assets and EUR 172 million (2008: EUR –70 million; 2007: EUR 83 million; 2006: EUR –163 million; 2005 EUR 116 million) experience
gain adjustments for liabilities.
Changes in defined benefit obligations
Pension benefits
Post-employment benefits
other than pensions
2009 2008 2009 2008
Opening balance 14,271 14,499 210 220
Current service cost 320 356 –8 –1
Interest cost 778 787 10 12
Employer’s contribution 2
Participants contributions 37
Benefits paid –640 –601 –6 –8
Actuarial gains and losses –100 –369 –10 1
Past service cost 18 79 –27 1
Changes in the composition of the group
and other changes –372 –169 –10 –18
Effect of curtailment or settlement –96 –135
Exchange rate differences 27 –183 –3 1
Closing balance 14,209 14,271 156 210
Relating to:
– funded plans 14,160 14,219
– unfunded plans 49 52 156 210
14,209 14,271 156 210
The estimated unrecognised past services cost and unrecognised actuarial gains and losses for the defined benefit plans to be amortised to
pension and other staff related liability costs during 2010 are nil and EUR 16 million, respectively.
Changes in fair value of plan assets
Pension benefits
2009 2008
Opening balance 13,366 14,708
Expected return on plan assets 842 886
Employer’s contribution 1,632 1,366
Participants contributions 37
Benefits paid –600 –584
Actuarial gains and losses 387 –2,647
Changes in the composition of the group
and other changes –374 –127
Exchange rate differences 54 –243
Closing balance 15,310 13,366
The actual return on the plan assets amounted to EUR 1,229 million (2008: EUR –1,761 million).
No plan assets are expected to be returned to ING Group during 2010.