Pension Obligations

Financial structure of pension obligations

Internally funded parts are covered by pension provisions in line with IAS 19 requirements. Due to the disposal of Deutsche Postbank the following figures exclude any pension liabilities and assets of Deutsche Postbank.

Pension obligations structure
€bn	2008	2009
Pension obligations	10.9	11.7
Value of plan assets	5.8	6.5
Unrecognised losses	0.7	0.9
Net pension provision	4.4	4.3

At the end of 2009 Deutsche Post Pensionsfonds AG (DPPF) was founded in order to fund part of the German pension liabilities. In total €0.65 billion of pension assets together with the regarding liabilities were transferred into DPPF.