Home » Siemens Annual Reports » 2008 Annual Report - page 260

Siemens 2008 Annual Report Download - page 260

Download and view the complete annual report

Please find page 260 of the 2008 Siemens annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

164 Notes to Consolidated Financial Statements

(in millions of €, except where otherwise stated and per share amounts)

The weighted-average assumptions used for the actuarial valuation of the DBO as of the balance sheet date were

as follows:

The assumptions used for the calculation of the DBO as of the balance sheet date of the preceding scal year are

used to determine the calculation of interest cost and service cost of the following year. Therefore, the assump-

tions used for the calculation of the NPBC for scal 2009 are already determined. The total expected return for

scal 2009 will be based on expected rates of return multiplied by the fair value of plan assets at the scal 2008

balance sheet date (see table below). The fair value and thus the expected return on plan assets are adjusted for

signicant events after the balance sheet date, such as a supplemental funding. Due to the implementation of

the BSAV, the effect of the compensation increase on the domestic pension plans is substantially eliminated.

The weighted-average assumptions used for determining the NPBC for the scal years ended September 30,

2009, 2008 and 2007 are shown in the following table:

Year ended September 30, 2008 Year ended September 30, 2007

Total Domestic Foreign Total Domestic Foreign

Discount rate 6.2% 6.4% 6.0% 5.3% 5.1% 5.6%

Germany 6.4% 5.1%

U.S. 6.79% 6.29%

U.K. 6.5% 6.0%

Rate of compensation increase 2.9% 2.25% 3.8% 2.7% 2.25% 3.5%

Germany 2.25% 2.25%

U.S. 4.05% 3.96%

U.K. 4.5% 4.0%

Rate of pension progression 1.9% 1.75% 2.2% 1.6% 1.5% 2.0%

Germany 1.75% 1.5%

U.K. 3.6% 3.1%

Year ending September 30, 2009 Year ended September 30, 2008 Year ended September 30, 2007

Total Domestic Foreign Total Domestic Foreign Total Domestic Foreign

Discount rate 6.2% 6.4% 6.0% 5.3% 5.1% 5.6% 4.7% 4.5% 5.0%

Germany 6.4% 5.1% 4.5%

U.S. 6.79% 6.29% 5.95%

U.K. 6.5% 6.0% 5.0%

Expected return on plan assets 6.5% 6.5% 6.4% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5%

Germany 6.5% 6.5% 6.5%

U.S. 6.97% 6.97% 6.95%

U.K. 6.5% 6.7% 6.7%

Rate of compensation increase 2.9% 2.25% 3.8% 2.7% 2.25% 3.5% 2.7% 2.25% 3.4%

Germany 2.25% 2.25% 2.25%

U.S. 4.05% 3.96% 3.95%

U.K. 4.5% 4.0% 3.7%

Rate of pension progression 1.9% 1.75% 2.2% 1.6% 1.5% 2.0% 1.2% 1.0% 1.8%

Germany 1.75% 1.5% 1.0%

U.K. 3.6% 3.1% 2.8%