The funded status of the pension plans at the end of Q2 2011 was estimated to be a deficit of €0.4 billion (year-end 2010: €1.0 billion; Q1 2011: €0.7 billion).
The movement compared to year-end 2010 is due to:
- Top-up payments of €341 million into certain defined benefit pension plans
- Higher discount rates decreasing the pension obligation
- Higher asset returns.