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4.1 CONSOLIDATED FINANCIAL STATEMENTS AND NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 7. Number of employees, personnel costs and employee benefits
DANONE
REGISTRATION DOCUMENT 2015
107
Defined benefit retirement plans and other post-employment benefits
Carrying amount of gross obligations
As of December 31
(in percentage)
2014
2015
Retirement plan for senior managers
37%
33%
Other
15%
16%
France
51%
49%
Germany
14%
14%
United States
6%
7%
United Kingdom
5%
6%
Indonesia
7%
7%
Ireland
6%
6%
Other
(a)
10%
11%
Total
100%
100%
(a) Several countries, none of which represent more than 5% of the Group's gross obligations.
Group's principal obligation
The Group's principal defined benefit retirement plan obligations
involve the Retirement plan for senior managers in France. This
retirement plan established in 1976 as part of a governmental
initiative to help companies retain senior managers, was closed
to any new beneficiaries as of December 31, 2003. Approximately
125 Danone executives who hold the status of senior executive
are eligible, under certain conditions (in particular seniority and
continuing employment conditions) for a defined benefit retirement
plan. As a reminder, in 2009, more than 210 executives were still
covered by this plan.
General principles
This plan provides for a pension based on years of service and the
amount of final salary, under the condition that the beneficiary is
still in Danone's employment at the time of retirement. The pension:
•
is paid after deducting certain pensions corresponding:
• with respect to a first category of senior executives, to the
full amount of retirement benefits they acquired over the
course of their professional career;
• with respect to a second category of senior executives, to the
full amount of retirement benefits that they acquired due to
the implementation of a Company non-contributory supple-
mentary retirement plan;
•
and may reach a maximum of 65% of final salaries.
In the event of leaving Danone before the age of 55 or in the event
of death before retirement, the employee loses all benefits under
this plan, it being specified that if the employee is laid off after the
age of 55, the plan benefits are preserved, subject to the beneficiary
not taking any salaried position in the future.
Other obligations
Most of the other retirement plans introduced by the Group relate only
to one particular subsidiary in one particular country. Consequently,
the Group is required to manage several different plans in a given
country. None is material.