Econocom - 2019 Universal registration document

234 2019 annual report 06 consolidated financial statements notes to the consolidated financial statements Actuarial assumptions and experience 17.2. adjustments Actuarial valuations depend on a certain number of long-term variables. These variables are reviewed every ژ year. ژ France Other countries (1) 2019 2018 2019 2018 Retirement age ژ 63-65 years 63-65 years ژ 60-65 years 63-65 years Salary increase rate and rights vested 2.20% 2.40% 1.00%- 2.20% 1.00%- 2.25% Inflation rate 1.70% 1.90% 1.70% 1.90% Discount rate 0.70% 1.60% 0.70% 1.60% Mortality table INSEE 2013-2015 INSEE 2012-2014 - ژ - Individually, the “Other countries” had an immaterial impact. (1) The employee turnover rate was determined based on statistics for each country and business. The employee turnover rate is applied depending on the age band of each employee and, for certain countries, depending on the employee’s status (managerial-grade/non-managerial-grade). increase in the provision of approximately €1.9 million. A 0.25 percentage point increase in the discount rate would lead to a €1.4 million decrease in the provision. A decrease of around 0.25 percentage points in the discount rate would lead to an In accordance with IAS ژ 19, the discount rates applied to determine the amount of the obligation are based on the yield on long-term private-sector bonds over a term matching that of the Group’s obligations. in € ڳ millions 31 ژ Dec. 2019 31 ژ Dec. 2018 * Present value of obligation (a) ژ 72.2 63.1 Present value of plan assets (b) ژ 27.3 18.5 Impact of discontinued activities and disposals (c) 7.8 Provision for pension obligations (a) – (b) – (c) ژ 37.1 44.6 Long-service awards ژ 0.3 0.5 Provisions for pension and other post-employment benefit obligations ژ 37.4 45.1 In accordance with the specifications of the standards, data at 31 December 2018 are not restated for the impact * of the application of IFRS 5 from 1 January 2019 (see 1.1.1.1). The total net amount reclassified at 31 December 2019 to assets held for sale was €7.3 million.