AAK Annual Report 2018

86 2018 2017 Total pension costs recognized in the consolidated income statement are as follows: Pension costs Total costs for defined contribution plans including employer's contribution 83 76 Total 83 76 Movement in the net liability recognized in the consolidated balance sheet: Defined benefit plans Net liability at start of year 164 134 Net cost recognized in the income statement 30 28 Benefits paid -10 -10 Disbursement of funds from the foundation 10 10 Contributions by employer to funded obligations -25 -25 Revaluation of defined benefit pension plans based on changed assumptions 28 15 Exchange rate differences on foreign plans 2 2 Reclassifications 7 10 Net liability at year-end 206 164 Asset distribution in foundation on reporting date (%): Fixed income 42 39 Shares 22 21 Properties 6 5 Alternative investments 30 35 The entire pension obligation in the Netherlands concerns alternative investments. The principal actuarial assumptions used on reporting date (%): The Netherlands Discount rate 1.85 1.85 Future annual salary increases 2.35 2.35 Future annual pension increases 1.00 1.00 Employee turnover 4.00 4.00 Sweden Discount rate 2.60 2.90 Future annual salary increases 3.00 2.80 Future annual pension increases 3.00 2.80 Employee turnover 5.00 5.00 Charges for plans for retirement benefits are expected to amount to SEK 29 million in the 2019 financial year. The weighted average term of the pension obligation is 17–19 years. 9 Note Provisions for pensions and similar obligations