9. Pension Provisions
The calculation of pension provisions as of 30 September 2015 was based on an interest rate of 2.00 % (31 December 2014: 1.75 %; 30 September 2014: 2.50 %). Actuarial gains/losses changed as follows. These are recognised in equity without effect on profit and loss.
Change in Actuarial Gains/Losses
in € thousand |
2015 |
2014 |
||
Cumulative actuarial gains (+)/losses (-) as of 01.01. |
- 65,731 |
12,737 |
||
Change during the financial year due to a change in interest rate |
13,737 |
- 44,130 |
||
Cumulative actuarial gains (+)/losses (-) as of 30.09. |
- 51,994 |
- 31,393 |
A 0.25 % increase in the interest rate would reduce the present value of the pension obligation by around € 13.5 million and thus lead to further actuarial gains.