279
Annual Report -
2013
-
Vivendi
4
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 21. Employee benefits
■
■
Benefit obligation, fair value of plan assets, and funded status detailed by country
(in millions of euros)
Pension benefits
(a)
Post-retirement benefits
(b)
Total
December 31,
December 31,
December 31,
2013
2012
2013
2012
2013
2012
Benefit obligation
US companies
107
118
120
144
227
262
UK companies
233
225
1
-
234
225
German companies
190
183
-
-
190
183
French companies
233
216
-
-
233
216
Other
67
115
15
19
82
134
830
857
136
163
966
1,020
Fair value of plan assets
US companies
48
53
-
-
48
53
UK companies
201
188
-
-
201
188
German companies
3
3
-
-
3
3
French companies
65
67
-
-
65
67
Other
39
56
-
-
39
56
356
367
-
-
356
367
Underfunded obligation
US companies
(59)
(65)
(120)
(144)
(179)
(209)
UK companies
(32)
(37)
(1)
-
(33)
(37)
German companies
(187)
(180)
-
-
(187)
(180)
French companies
(168)
(149)
-
-
(168)
(149)
Other
(28)
(59)
(15)
(19)
(43)
(78)
(474)
(490)
(136)
(163)
(610)
(653)
(a)
No employee defined benefit plan individually exceeded 10% of the total value of the obligations and of the underfunded obligation
of these plans.
(b)
Mainly relates to medical coverage (hospitalization, surgery, doctor visits, drug prescriptions) post-retirement and life insurance benefits for certain
employees and retirees in the United States. In accordance with the current regulation in relation to the funding policy of this type of plan, the
plan is not funded. The main risks for the group relate to changes in discount rates as well as the increase in costs of benefits (please refer to the
sensitivity analysis described in Note 21.2.1).
21.2.4.
Benefits estimation and future payments
For 2014, hedge fund contributions and benefit payments to retirees by
Vivendi are estimated at €44 million in respect of pensions, of which
€24 million to pension funds and €11 million to post-retirement benefits.
Estimates of future benefit payments to beneficiaries by the relevant pension funds or by Vivendi (in nominal value) are as follows:
(in millions of euros)
Pension benefits
Post-retirement benefits
2014
51
11
2015
25
10
2016
33
11
2017
33
10
2018
30
10
2019-2023
177
49
