|
% |
|
2017 |
|
2016 |
|
Benefit obligation, discount rate |
|
|
|
|
|
Pension |
|
3.3 |
|
3.7 |
|
Post-retirement healthcare and other |
|
3.1 |
|
3.4 |
|
Post–retirement group life |
|
3.4 |
|
3.8 |
|
Annual rate of increase in future compensation levels |
|
2.06 |
|
2.08 |
|
Assumed healthcare cost trend rates |
|
|
|
|
|
Healthcare costs trend rate assumed for next year |
|
11.5 |
|
7.5 |
|
Healthcare cost trend rate assumed for next year (excluding post-retirement dental benefits) |
|
11.8 |
|
7.7 |
|
Terminal growth rate |
|
4.9 |
|
4.9 |
|
Year that the rate reaches the terminal growth value |
|
2028 |
|
2028 |
Sensitivity analysis
The sensitivity of the defined benefit obligation to changes in the principal assumptions:
|
|
|
|
|
Increase in assumption(1) |
|
Decrease in assumption(1) |
|
|
|
Change in assumption |
|
EURm |
|
EURm |
|
Discount rate for determining present values |
|
1.0 |
% |
2 441 |
|
(2 961) |
|
Annual rate of increase in future compensation levels |
|
1.0 |
% |
(117) |
|
103 |
|
Pension growth rate |
|
1.0 |
% |
(557) |
|
468 |
|
Inflation rate |
|
1.0 |
% |
(533) |
|
437 |
|
Healthcare cost trend rate |
|
1.0 |
% |
(47) |
|
43 |
|
Life expectancy |
|
1 |
year |
(899) |
|
846 |
Positive movement indicates a reduction in the defined benefit obligation; a negative movement indicates an increase in the defined benefit obligation.