54 JOTUN A/S SCHEMES WITH NET PENSION OBLIGATIONS (NOK THOUSAND) 2016 2015 CHANGES IN PENSION OBLIGATIONS INCLUDING SOCIAL SECURITY Pension obligation at the beginning of the period 76 464 71 983 Pension earning for the year 2 997 3 064 Interest cost on pension obligations 1 388 1 865 Actuarial loss / gain (–) 3 501 5 830 Social security upon paying pension funds –188 –190 Pension payments –7 067 –6 089 Pension obligation at the end of the period* 77 095 76 464 CHANGES IN PLAN ASSETS Plan assets at the beginning of the period 2 104 1 005 Expected return on plan assets 10 –20 Actuarial loss / gain (–) 2 2 091 Payments in / out (–) 1 330 1 347 Pension payments –1 414 –2 318 Plan assets at the end of the period 2 032 2 104 RECONCILIATION OF PENSION LIABILITIES/ASSETS RECOGNISED IN THE BALANCE SHEET Net pension obligation – overfunded / underfunded (–) –75 063 –74 360 Total pension liabilities –75 063 –74 360 THE PERIOD’S PENSION COSTS INCLUDING SOCIAL SECURITY Pension earnings for the year 3 016 3 084 Interest cost for the pension obligations 1 361 1 863 Expected return on plan assets – 3 Pension cost recognised in the profit or loss statement 4 377 4 950 Actuarial loss/gain(–) recognised in other comprehensive income (net of taxes) 2 659 2 805 PENSION OBLIGATIONS IN THE BALANCE SHEET Benefit schemes and other unsecured schemes –75 063 –74 360 Other severance schemes –52 800 –41 294 Plan liabilities recognised in the statement fo financial position –127 863 –115 654 *) including unsecured schemes
Jotun Annual Report 2016
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