The detail of this item is the following:
|
(in thousands of euro) |
31.12.2010 |
31.12.2009 |
|
Employee leaving indemnity (TFR) |
92,070 |
105,494 |
|
Retirement funds and similar obligations |
32,273 |
31,852 |
|
Total |
124,343 |
137,346 |
|
(in thousands of euro) |
31.12.2010 |
31.12.2009 |
|
Opening balance |
137,346 |
147,482 |
|
Provisions made for work done during the period |
23,484 |
21,705 |
|
Increases for interest |
6,153 |
6,230 |
|
Actuarial income or expense |
39 |
(111) |
|
Benefits paid out |
(24,367) |
(19,582) |
|
Increases or decreases due to changes in consolidation area |
(1,267) |
(237) |
|
Other changes |
(17,045) |
(18,141) |
|
Closing balance |
124,343 |
137,346 |
TFR and Defined Benefit Provision
|
Annual technical discount rate |
4.0% - 4.75% |
|
Annual inflation rate |
2% |
|
Annual rate of pay increases |
0.5% - 3% |
|
Annual rate of TFR increase |
3% |
|
Annual probability of making advance payouts |
2% - 3% |
|
Voluntary resignation rate |
3% - 10% of staff |
Pension funds
|
Annual technical discount rate |
4.5 – 5.5% |
|
Annual inflation rate |
2% - 3.4% |
|
Annual rate of pay increases |
2% - 4.5% |
|
Return on assets servicing the plan |
2% - 7.5% |
|
Retirement age |
62-65 |