Moncler Group | Annual Report 2024 Consolidated Financial Statements 384 |
The pension funds pertain mainly to the Italian entities of the Group.
Following the recent welfare reform, beginning
on 1 January
2007, the liability has taken the form of a def ined contribution
plan. Therefore, the amount of pension fund (TFR) accrued prior
to the application of the reform and not yet paid to the employees
as at the date of the Consolidated Financial Statements is
considered as a def ined benef it plan, changes in which are shown
in the following table:
The actuarial valuation of employee termination benef its (TFR)
is based on the Projected Unit Credit Cost method. Reported
below are the main economic and demographic assumptions
utilised for actuarial valuations.
EMPLOYEES PENSION FUNDS — MOVEMENTS
EUR/000 31 December 2024 31 December 2023
Net recognized liability — opening(4,792)(4,337)
Changes in consolidation area 0 0
Interest costs(138)(163)
Service costs(782)(866)
Payments 971 558
Actuarial Gains/(Losses)43 16
NET RECOGNIZED LIABILITY — CLOSING(4,698)(4,792)
ASSUMPTIONS
Discount rate 3.10%
Inf lation rate 2.00%
Nominal rate of wage growth 2.00%
Labour turnover rate 13.14%
Probability of request of advances of TFR 1.68%
Percentage required in case of advance 70.00%
Life Table — Male M2019
Life Table — Female F2019
(*) Table ISTAT — resident population
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