ANNUAL REPORT ‘12
NOTES TO THE FINANCIAL STATEMENTS
225
20_OBLIGATIONS ON ACCOUNT OF RETIREMENT BENEFITS
These obligations only concern ANA, S.A. as mentioned in note 2.17. The Complementary Pension Fund has 2
associated plans, one of which is a defined benefits plan.
Defined Benefits Plan
Actuarial calculations using the immediate annuity method were carried out to ascertain the responsibilities with
services of the Defined Benefits Plan, which only covers a population of pensioners.
In order to conform to the trends of market interest rates, in 2012 the company decided to change the technical
rate to 3.5%. Thus the actuarial assumptions used to ascertain responsibilities with past services of the Defined
Benefits Plan were as follows:
Based on actuarial studies, the following values were ascertained:
After carrying out a sensitivity analysis for the sums as of 31 December 2012, varying the technical rate by
+25 b.p. and -25 b.p., the actuarial results are as follows:
Mortality table
TV(88/90)
TV(88/90)
Technical rate
3.50%
5.00%
Pension growth rate (CGA)
1.50%
1.50%
Pension growth rate (SS)
1.50%
1.50%
2012
2011
Fund patrimony
4,510,100.41
4,191,930.09
4,563,844.19
4,845,530.48
Responsibilities undertaken
4,447,952.92
3,800,793.56
4,031,424.56
4,420,756.22
(Insufficiency)/Surplus
62,147.49
391,136.53
532,419.63
424,774.26
2011
2012
2009
2010
Fund patrimony
4,510,100.41
4,510,100.41
Responsibilities undertaken
4,542,262.70
4,357,084.05
Insufficiency/Surplus
(32,162.29)
153,016.36
3.25%
Technical rate
3.75%
