Siemens 2008 Annual Report Download - page 262

166 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts)
The plan assets include domestic real estate with a fair value of €265 and €270 as of September 30, 2008 and
2007, respectively, which is occupied by the Company.
The following table shows the actual return on plan assets for scal 2008 and 2007:
The actual return over the last twelve months amounted to (9.7)% or €(2,177) compared to an expected return
of 6.5% or €1,471. The experience adjustment arising on plan assets was (16.2)% in scal 2008 (scal 2007:
(0.9)%). For the domestic pension plans, €(1,627) or (11.7)% was realized, as compared to an expected return
on plan assets of 6.5% or an amount of €929 that was included in the NPBC. For the foreign pension plans,
€(550) or (6.5)% was realized, as compared to an expected return on plan assets of 6.5% or an amount of €542
that was included in the NPBC.
Pension benets: Pension plan funding
Contributions made by the Company to its principal pension benet plans in scal 2008 and 2007, as well as
those planned in scal 2009 are as follows:
Regular funding is generally based on the level of service cost incurred. For the BSAV funding is based on the
contributions to the beneciaries’ account. Future funding decisions for the Company’s pension plans will be
made with due consideration of developments affecting plan assets and pension liabilities, taking into account
minimum funding requirements abroad and local tax deductibility.
Pension benets: Pension benet payments
The following overview comprises pension benets paid out of the principal pension benet plans during the
years ended September 30, 2008 and 2007, and expected pension payments for the next ve years and in the
aggregate for the ve years thereafter (undiscounted):
Year ended September 30, 2008 Year ended September 30, 2007
Total Domestic Foreign Total Domestic Foreign
Actual return on plan assets (2,177) (1,627) (550) 1,295 578 717
(Unaudited) Year ending
September 30, 2009 (expected) Year ended September 30, 2008 Year ended September 30, 2007
Total Domestic Foreign Total Domestic Foreign Total Domestic Foreign
Regular funding 391 194 197 562 112 450 837 271 566
Supplemental cash Contributions – – – – – – – – –
Total 391 194 197 562 112 450 837 271 566
Total Domestic Foreign
Pension benefits paid
2007 1,226 818 408
2008 1,261 871 390
Expected pension payments
2009 1,260 877 383
2010 1,284 895 389
2011 1,317 914 403
2012 1,330 940 390
2013 1,331 937 394
2014 – 2018 7,040 4,895 2,145