Porsche 2005 Annual Report Download - page 144
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142
The carrying amount posted to the balance sheet for pension provisions and similar obligations
developed as follows compared to the previous year:
2005/06 2004/05
T€ T€
Carrying amounts as of August 1, 2005 and August 1, 2004 596,264 550,817
Changes in consolidated group – 6,842 –
Retirement benefit costs 71,085 49,303
Benefit payments made – 17,331 – 16,193
Contributions to funds 1,213 44
Employee contributions to company pension plan 14,354 12,293
Carrying amounts as of July 31, 2006 and July 31, 2005 658,743 596,264
July 31, 2006 July 31, 2005
T€ T€
Present value of benefit obligations financed by provisions 709,664 719,183
Present value of funded benefit obligations 49,004 44,131
Projected benefit obligations 758,668 763,314
Fair value of plan assets – 37,309 – 32,476
Net obligations 721,359 730,838
Unrecognised actuarial gains (+) and losses (–) – 63,572 – 134,574
Unrecognised past service costs 956 –
Carrying amount as of July 31, 2006 and July 31, 2005 658,743 596,264
The company uses the ten percent corridor rule to measure the pension provisions and determine the
pension expenses. Actuarial gains and losses are not taken into account provided they do not exceed
ten percent of the commitment or ten percent of the fair value of the existing plan assets.
The amount in excess of the corridor is distributed over the average residual service period of the active
workforce and recorded in the profit and loss. Due to unrecognized actuarial losses, the pension provisions
shown on the face of the balance sheet are lower than the present value of the pension commitment.
The net benefit obligations are as follows: