Gschäftsbericht 2018

112 | Galenica financial statements 2018 Finance Notes to the consolidated financial statements of the Galenica Group As a result of the separation of Galenica from Vifor Pharma (refer to page 88) changes to the Group’s pension arrangements were implemented in 2018. The employees and pensioners of the Group previously covered by the Galenica Pension Fund (to be renamed to Vifor Phama Pension Fund in 2019) were transferred to the Galenicare Pension Fund as of 1 January 2019, resulting in past service costs of CHF 41.2 million due to the alignment of benefits payable. Following these changes, the Galenicare Pension Fund covers all employees and pensioners of the Group and is to be renamed to Galenica Pension Fund in 2019. Defined benefit plans and long-service awards in thousand CHF Defined benefit plans Long-service awards 1) 2018 Total Defined benefit plans Long-service awards 1) 2017 Total Plan assets measured at fair value 813,096 — 813,096 825,849 — 825,849 Present value of defined benefit obligation (872,208) (14,595) (886,803) (780,461) (15,167) (795,628) Surplus/(deficit) (59,112) (14,595) (73,707) 45,388 (15,167) 30,221 Effect of asset ceiling — — — (60,081) — (60,081) Net carrying amount recognised in liabilities (59,112) (14,595) (73,707) (14,693) (15,167) (29,860) 1) Long-service awards relate to provisions for jubilee payments Change in present value of defined benefit obligation in thousand CHF Defined benefit plans Long-service awards 2018 Total Defined benefit plans Long-service awards 2017 Total 1 January (780,461) (15,167) (795,628) (745,712) (12,619) (758,331) Current service cost (22,789) (1,811) (24,600) (25,663) (1,912) (27,575) Past service cost (41,181) — (41,181) — — — Interest on defined benefit obligation (5,510) (103) (5,613) (4,512) (89) (4,601) Actuarial gain/(loss) (15,043) 1,537 (13,506) 33,769 (1,420) 32,349 Employee contributions (13,925) — (13,925) (13,412) — (13,412) Benefits/awards paid 14,542 1,002 15,544 13,597 1,165 14,762 Transfers of employees from Vifor Pharma Group — — — (30,270) (292) (30,562) Change in scope of consolidation (7,841) (53) (7,894) (8,258) — (8,258) 31 December (872,208) (14,595) (886,803) (780,461) (15,167) (795,628) Change in fair value of plan assets in thousand CHF 2018 2017 1 January 825,849 697,894 Interest on plan assets 5,822 4,257 Remeasurement gain/(loss) (46,530) 67,420 Employee contributions 13,925 13,412 Employer contributions 23,430 22,578 Benefits paid (14,542) (13,597) Administration cost (934) (881) Transfers of employees from Vifor Pharma Group — 29,048 Change in scope of consolidation 6,076 5,718 31 December 813,096 825,849