Provisions for employee benefits
23 Provisions for employee benefits
x € 1 million | Long-service benefits | Other | Total |
|---|---|---|---|
As at 1 January 2021 | 9 | 5 | 14 |
Additions | 1 | 3 | 4 |
Withdrawals | -1 | -2 | -3 |
Release | -1 | -1 | -2 |
As at 31 December 2021 | 8 | 5 | 13 |
Additions | 1 | 4 | 5 |
Withdrawals | - | -2 | -2 |
Release | -1 | - | -1 |
As at 31 December 2022 | 8 | 7 | 15 |
Classification (x € 1 million) | As at 31 December 2022 | As at 31 December 2021 |
|---|---|---|
Current | 5 | 4 |
Non-current | 10 | 9 |
Total | 15 | 13 |
Long-service benefits
This provision covers the obligation to pay amounts to employees on achieving a certain number of years of service and on the retirement of employees.
The following actuarial assumptions were used for the provisions:
31 December 2022 | 31 December 2021 | |
|---|---|---|
Discount rate | 2.71% | 1.0% |
Future salary increments | 1.5% - 2.5% | 1.5% - 2.5% |
Mortality table | GBM & GBV 2016-2021 | GBM & GBV 2015-2020 |
Long-service payments are made over the long term. The provision is remeasured annually using current employee information.
