AAK Annual Report 2017

68 Defined benefit plans 2017 2016 The amounts recognized in the consolidated balance sheet are determined as follows: Present value of funded obligations 827 796 Fair value of plan assets -663 -662 164 134 Defined benefit plans 2017 2016 The amounts recognized in consolidated comprehensive income are as follows: Costs pertaining to service during the current year 29 20 Interest expenses 17 17 Interest income -15 -14 Employees' contributions paid -3 -2 Total, included in employee costs (Note 6) 28 21 Pension costs 2017 2016 Total pension costs recognized in the consolidated income statement are as follows: Total costs for defined contribution plans including employer's contribution 76 89 Total 76 89 Defined benefit plans 2017 2016 Movement in the net liability recognized in the consolidated balance sheet: Net liability at start of year 134 128 Net cost recognized in the income statement 28 21 Benefits paid -10 -9 Disbursement of funds from the foundation 10 9 Contributions by employer to funded obligations -25 -24 Revaluation of defined benefit pension plans based on changed assumptions 15 -5 Exchange rate differences on foreign plans 2 4 Reclassifications 10 10 Net liability at year-end 164 134 Defined benefit plans 2017 2016 Asset distribution in foundation on reporting date (%): Fixed income 39 36 Shares 21 19 Properties 5 5 Alternative investments 35 40 The entire pension obligation in the Netherlands concerns alternative investments. Defined benefit plans 2017 2017 The Netherlands Sweden The principal actuarial assumptions used on reporting date (%): Discount rate 1.85 2.90 Future annual salary increases 2.35 2.80 Future annual pension increases 1.00 2.80 Employee turnover 4.00 5.00 Defined benefit plans 2016 2016 The Netherlands Sweden The principal actuarial assumptions used on reporting date (%): Discount rate 1.80 3.00 Future annual salary increases 2.35 2.80 Future annual pension increases 1.00 2.80 Employee turnover 4.00 5.00 Charges for plans for retirement benefits are expected to amount to SEK 25 million in the 2018 financial year. The weighted average term of the pension obligation is 17–19 years.