9. Pension provisions

The calculation of pension provisions as of 30 June 2018 was based on an interest rate of 1.50 % (31 December 2017: 1.40 %; 30 June 2017: 1.60 %). The calculation of the new pension scheme (HHLA capital plan) as of 30 June 2018 was based on an interest rate of 1.70 % (previously: provisions for working lifetime accounts as of 31 December 2017: 1.70 %; as of 30 June 2017: 1.90 %). Actuarial gains/losses changed as follows. These are recognised in equity without effect on profit and loss.

As of 31 December 2017, pension provisions included both pension obligations and working lifetime obligations. As part of the harmonisation of existing pension systems, provisions for working lifetime obligations were transferred to the provisions for the HHLA capital plan as of 1 January 2018.

The existing plan assets (shares in funds) of the working lifetime obligations amounting to € 13,290 thousand as of 31 December 2017 no longer constitute plan assets following transfer to the new pension scheme and are reported as other current financial receivables as of 30 June 2018.

The other provisions of € 9,145 thousand formed in the previous year for the change in the existing pension scheme have been reclassified to provisions for the HHLA capital plan in the amount of € 3,906 thousand. The remaining amount of € 5,239 thousand relates to current settlement obligations under collective labour agreements.

As part of the harmonisation, the “port pension” obligations attributable to the company’s active employees were transferred to the provisions for the HHLA capital plan in the amount of € 18,013 thousand.

The provisions for the HHLA capital plan fall within the category of defined benefit plans; unlike the previous approach taken in respect of working lifetime obligations, however, they constitute non-financed plan assets. Therefore, they represent a pension scheme financed by provisions, just like the pension obligations.