New Wave Group AB Annual_report_2018_EN_HQ | Page 83

NWG // FINANCIAL INFORMATION //
THE GROUP
Pension obligations
Defined benefit pension plans exist within the Group.
These are only smaller pension plans. For white-
collar employees in Sweden ITP 2-plan defined
benefit pension obligations for retirement- and
family pensions (or family pension) are secured
through insurance in Alecta. According to a
statement from the Swedish Financial Reporting
Board, UFR 10 Accounting for pension plan ITP
2 financed by insurance in Alecta, this is a defined
benefit plan that covers several employers. For
financial year 2018 the company has not had access
to information in order to account for its propor-
tionate share of the plan's obligations, plan assets
and costs which meant that the plan has not been
possible to account for as a defined benefit plan. The
pension plan ITP 2 secured through insurance in
Alecta is therefore recognized as a defined contri-
bution plan. The premium for the defined benefit
retirement and family pension is individually calcu-
lated and is dependent on factors including salary,
previously earned pension and expected remaining
period of service. Expected premiums for 2019
amount to SEK 9,4 million (SEK 10.0 million).
The collective funding level is the market value
of Alecta’s assets in percent of the commitments
calculated in accordance with Alecta´s calcu-
lation assumptions for insurance purposes, which
do not comply with IAS 19. The collective conso-
lidation level is normally allowed to vary between
125 and 155 %. If Alecta’s consolidation level fall
below 125 % or exceed 155 %, measures should be
taken in order to create conditions to reestablish
the consolidation level to the normal range. At low
consolidation, a measure can be to raise the agreed
price for new agreements. At high consolidation, a
measure can be to introduce premium reductions.
Alecta’s collective funding ratio at the end of the year
was 142 % (154 %).
Note 7 - Remuneration to auditors
SEK million
Audit assignment 2018 2017
Ernst & Young
Other 5.0
2.5 4.7
3.2
0.6
1.1
9.2 0.6
1.5
10.0
Audit work outside audit assignment
Tax consultancy
Total
ANNUAL REPORT // 083