28. Provisions

(amounts in millions of €, unless otherwise indicated)

	2008		2007
Provisions for pensions	10.8		10.4
Provisions for other employee benefits	6.0		5.2
Provisions for restructuring, workers’ compensation and other	157.1		72.2
	173.9		87.8
Non-current provisions	69.4		46.7
Current provisions	104.5		41.1
	173.9		87.8

The provision for pensions and other employee benefits are reported separately in 2008. The comparative for figures 2007 have been adjusted accordingly.

28.1 Provisions for pensions

The provisions for pension relates to the following items:

	2008		2007
Defined benefit plan, corporate employees Belgium	-1.8		-1.8
Defined benefit plan, staffing and corporate employees Switzerland	1.8		1.2
Defined benefit plan, corporate employees Germany	9.0		8.9
Defined benefit plan, corporate employees the Netherlands	1.8		2.1
	10.8		10.4

The breakdown of the provisions for the defined benefit pension plans is:

	2008		2007
Present value of funded obligations	59.7		41.0
Present value of unfunded obligations	1.8		2.1
Total present value of obligations	61.5		43.1
Fair value of plan assets	-48.5		-30.6
	13.0		12.5
Unrecognized actuarial losses	-2.2		-2.1
Liability in the balance sheet	10.8		10.4

These provisions are considered non-current.

The amounts recognized in the income statement are:

	2008		2007
Current service costs, employer	4.4		3.3
Amortization of gains and losses	0.3		0.0
Expected return on plan assets	-2.3		-1.4
Charged to operating result	2.4		1.9
Interest expenses due to passage of time	2.5		1.4
Charged to income statement	4.9		3.3

The changes in the present value of the defined benefit pension plan obligations are:

	2008		2007
Value at January 1	43.1		35.2
Acquisitions of subsidiaries	20.1		3.7
Effects from adjustments to acquisitions in prior years	-		0.7
Current service costs, total	6.7		4.8
Interest expenses due to passage of time	2.5		1.4
Benefits paid	-11.1		-1.9
Unrecognized actuarial results, net	-2.0		-0.5
Translation differences	2.2		-0.3
Value at December 31	61.5		43.1

The changes in the fair value of the plan assets with respect to defined benefit pension plans are:

	2008		2007
Value at January 1	30.6		22.9
Acquisitions of subsidiaries	11.9		2.9
Expected return on plan assets	2.3		1.4
Contributions, employees	2.3		1.5
Contributions, employers	4.5		3.6
Benefits paid	-2.9		-1.5
Unrecognized actuarial results, net	-2.4		0.1
Translation differences	2.2		-0.3
Value at December 31	48.5		30.6

The major categories of plan assets as a percentage of the fair value of total plan assets are:

	2008		2007
Cash	11.0%		0.6%
Bonds	35.4%		45.0%
Equity instruments	38.4%		45.2%
Real estate	6.0%		6.0%
Other	9.2%		3.2%
Total	100.0%		100.0%

The overall expected rate of return on plan assets is determined by considering the expected market returns available on the assets underlying the current investment policy, supported by rates of returns experienced in the respective markets.

The actual return on plan assets was -€ 7.0 million (2007: € 1.6 million).
The principal actuarial assumptions used for defined benefit plans are:

	2008		2007
Discount rate	3.3 – 6.0 %		2.9 - 5.6%
Expected return on plan assets	4.4 – 6.3 %		4.0 - 6.3%
Expected salary increases	1.5 – 8.2 %		1.5 - 6.5%
Expected pension increases	0.5 – 1.5 %		0.5 - 1.5%

The average life expectancy in years of an individual retiring at the age of 65 on the balance sheet date is:

	2008		2007
Male	17.3 – 18.6		17.9 – 18.6
Female	21.2 – 22.7		21.2 – 22.7

The assumptions regarding future mortality are based on published statistics and mortality tables in each territory.