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The funded status of the pension plans at the end of Q1 2011 was estimated to be a deficit of €0.7 billion (year-end 2010: €1.0 billion).

The movement is due to:

  • Higher discount rates decreasing the pension obligation
  • Top-up payments of €341 million into certain defined benefit pension plans

Offset by:

  • Higher inflation expectations and
  • Lower asset returns.
Copyright © 2011 Akzo Nobel N.V.