PC2. Personnel and board costs
SEKm |
2016 |
2015 |
||
|
||||
Board of Directors 1), President, Executive Vice Presidents and senior executives (6 (5)) |
–73 |
–85 |
||
of which variable remuneration |
–31 |
–25 |
||
Other employees |
–129 |
–149 |
||
Total |
–202 |
–234 |
SEKm |
2016 |
2015 |
||
|
||||
Total social security costs |
–299 |
–272 |
||
of which pension costs 1) |
–235 |
–198 |
SEKm |
2016 |
2015 |
|
|
|
Self-administered pension plans |
|
|
Costs excluding interest expense |
–152 |
–127 |
Interest expense (recognized in personnel costs) |
–6 |
–12 |
|
–158 |
–139 |
Retirement through insurance |
|
|
Insurance premiums |
–24 |
–27 |
Other |
–3 |
5 |
|
–185 |
–161 |
Policyholder tax |
0 |
0 |
Special payroll tax on pension costs |
–47 |
–36 |
Cost of credit insurance, etc. |
–3 |
–1 |
Pension costs for the period |
–235 |
–198 |
Premiums during the year for disability and family pension insurance with Alecta amounted to SEK –3m (–2). Premiums for 2017 is expected to be SEK 3m, see also Pension provisions in this note. Personnel costs also include other personnel costs in the amount of SEK –13m (–11).
2016 |
21–30 yrs |
31–40 yrs |
41–50 yrs |
51–60 yrs |
61– yrs |
|
5 |
23 |
36 |
29 |
7 |
Women comprised 42% (30) of Board members and 33% (35) of senior executives.
Provisions for pensions
AP ACCOUNTING PRINCIPLES
The Parent Company applies the regulations in the Pension Obligations Vesting Act (Tryggandelagen). The main difference compared with IAS 19 is that Swedish GAAP disregards future increases in salaries and pensions when calculating the present value of the pension obligation. This present value includes, however, a special reserve for future payments of pension supplements indexed for inflation. Both defined contribution and defined benefit plans exist in the Parent Company.
PRI pensions
Pension liabilities pertaining to PRI pensions have been secured through a common Swedish SCA pension fund. The market value of the Parent Company’s portion of the foundation’s assets at December 31, 2016 amounted to SEK 127m (111). In the past two years, no compensation has been received. The capital value of the pension obligations at December 31, 2016 amounted to SEK 125m (119). Pension payments of SEK –7m (–7) were made in 2016. The assets exceeded pension obligations during 2016, which is why provisions in the balance sheet of SEK 8m made in previous years could be dissolved.
Other pension obligations
The Group’s Note C3 Remuneration of senior executives describes the other defined benefit pension plans of the Parent Company. The table below shows the change between the years.
SEKm |
2016 |
2015 |
|
|
|
Value, January 1 |
713 |
619 |
Compensation received for assumed pension obligations |
24 |
– |
Compensation paid for transferred pension obligations |
–839 |
– |
Costs excluding interest expense |
152 |
127 |
Interest expense (recognized in personnel costs) |
6 |
12 |
Payment of pensions |
–32 |
–45 |
BS Value, December 31 |
24 |
713 |
External actuaries have carried out capital value calculations pursuant to the provisions of the Swedish Act on Safeguarding of Pension Obligations. The discount rate is 0.8% (1.9). The defined benefit obligations are calculated based on salary levels valid on the respective balance sheet dates. The majority of pension obligations were transferred to the subsidiary SCA Hygiene AB on December 30, 2016. The pension obligations will be formally transferred when the County Administrative Board grants its approval, which is expected to occur in 2017. Next year’s expected payments for the above defined benefit pension plans amount to SEK 30m, which will be charged to the subsidiary SCA Hygiene AB. Part of the pension obligations are covered by capital redemption policies. The capital redemption policies are reported as other long-term receivables in the balance sheet.