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ABOUT UNILEVER GOVERNANCE FINANCIAL STATEMENTS SHAREHOLDER INFORMATION
99Unilever Annual Report and Accounts 2012 Financial statements
4B Pensons and smlar oblgatons continued
Balance sheet
The assets, liabilities and surplus/(deficit) position of the pension and other post-employment benefit plans and the expected rates of
return on the plan assets at the balance sheet date were:
31 December 2012 31 December 2011
 mllon  mllon %€ million € million %
Penson
plans
Other post-
employment
beneft
plans
Long-term
rates of
return
expected
Pension
plans
Other post-
employment
benefit
plans
Long-term
rates of
return
expected
Assets of principal plans:
Equities 7,486 –69% 6,860 –7.2%
Bonds 6,238 –30% 6,120 –3.8%
Property 1,129 –44% 1,007 –4.7%
Other 2,354 –49% 1,633 –6.2%
Assets of other plans 458 876% 417 77.9%
17,665 816,037 7
Present value of liabilities:
Principal plans (19,772) –(17,703) –
Other plans (900) (660) (887) (657)
(20,672) (660) (18,590) (657)
Aggregate net deficit of the plans (3,007) (652) (2,553) (650)
Irrecoverable surplus(a) – – – –
Pension liability net of assets (3,007) (652) (2,553) (650)
Of which in respect of:
Funded plans in surplus:
Liabilities (5,053) (1) (4,201) –
Assets 5,722 45,204 –
Aggregate surplus 669 31,003 –
Irrecoverable surplus(a) – – – –
Pension asset net of liabilities 669 31,003 –
Funded plans in deficit:
Liabilities (14,216) (22) (13,101) (34)
Assets 11,943 410,833 7
Pension liability net of assets (2,273) (18) (2,268) (27)
Unfunded plans:
Pension liability (1,403) (637) (1,288) (623)
(a) A surplus is deemed recoverable to the extent that the Group is able to benefit economically from the surplus.
Equity securities include Unilever securities amounting to €32 million (0.2% of total plan assets) and €41 million (0.3% of total plan
assets) at31December 2012 and 2011 respectively. Property includes property occupied by Unilever amounting to €16 million
and €14million at 31December 2012 and 2011 respectively.
The pension assets above exclude the assets in a Special Benefits Trust amounting to €98 million (2011: €110 million) to fund pension
and similar obligations in the US (see also note 17A on page 122).
The sensitivity of the overall pension liabilities to changes in the weighted key financial assumptions are:
hange n assumpton Impact on overall labltes
Discount rate Increase/decrease by 05% Decrease/ncrease by 8%
Inflation rate Increase/decrease by 05% Increase/decrease by 6%