NWG Annual Report 2019 - EN NWG Annual Report 2019 - EN | Page 111

NWG // FINANCIAL INFORMATION //
SEK million
THE PARENT COMPANY
2019
Salaries and other
remuneration Of which
bonus Pension
costs 2018
Salaries and other
remuneration Of which
bonus Pension
costs
0.9
0.4
0.2
0.0
0.2
0.2
0.1
0.1
5.0
7.1 0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.3
0.3 0.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.9
2.2 0.9
0.3
0.2
0.1
0.2
0.2
0.0
0.0
4.1
6.0 0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0 0.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.6
2.0
Torsten Jansson, CEO
Olof Persson, Chairman of the Board
Christina Bellander, Board Member
Elisabeth Dahlin, resigning Board Member 2018
Mats Årjes, Board Member
M. Johan Widerberg, Board Member
Jonas Eriksson, Board Member (new election)
Magdalena Forsberg, Board Member (new election)
Other senior executives *
Total
* See pages 54-55.
Warrants
The Parent company has no outstanding warrants.
Pension obligations
For white-collar employees in Sweden the ITP 2-plan's
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 insu-
rance in Alecta, this is a defined benefit plan that
covers several employers. For financial year 2019 the
company has not had access to information in order to
account for its proportionate share of the plan's obliga-
tions, 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 insu-
rance with Alecta is therefore recognized as a defined
contribution plan. The premium for the defined
benefit retirement and family pension is individually
calculated and is dependent on factors including
salary, previously earned pension and expected
remaining period of service. Expected premiums for
2020 amount to SEK 2.4 (2.3) million.
The collective funding level is the market value
of Alecta’s assets in percent of the commitments
calculated in accordance with Alecta´s calculation
assumptions for insurance purposes, which do not
comply with IAS19. The collective consolidation 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 148 % (142 %).
ANNUAL REPORT // 111