Repower - Annual Report 2018 - Repower Annual Report 2018

34 Pension schemes

EMPLOYER CONTRIBUTION RESERVES

	Nominal value	Balance sheet		Additions/utilisations	Result of ECR in personnel expenses
	31.12.2018	31.12.2018	31.12.2017	2018	2018	2017
CHF thousand

Pension institutions	68	68	80	–12	–12	–12

For reasons of materiality, employer contribution reserves are not discounted. The nominal value corresponds to the carrying value. Employer contribution reserves are recognised under non-current financial assets.

ECONOMIC BENEFIT/ECONOMIC LIABILITY AND PENSION BENEFIT EXPENSES

	Overfunding/ underfunding	Organisation's share of economic liability		Change on prior year	Contributions concerning the business period	Pension benefit expenses within personnel expenses
	31.12.2018	31.12.2018	31.12.2017	2018	2018	2018	2017
CHF thousand

Pension plans without overfunding/underfunding	-	-	-	-	3,620	3,620	3,417
Pension institutions with unfunded obligations	-	–3,649	–3,692	43	388	759	740
Total	-	–3,649	–3,692	43	4,008	4,379	4,157

The pension fund for employees of Repower AG is organised as a pension scheme of the collective foundation of the PKE Vorsorgestiftung Energie foundation. Swibi AG is affiliated to a joint pension scheme of the PKE Vorsorgestiftung Energie foundation. Based on the most recent financial statements available, neither of these pension schemes is under- or overfunded.

The item “Pension institutions without own assets” relates to the obligation to pay severance pay in Italy (see Note 27). The change in the stated provision in the income statement comes to CHF 371 thousand at the average exchange rate.