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SEC Filings

20-F
AC IMMUNE SA filed this Form 20-F on 03/21/2019
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Expected contributions by the employer to be paid to the post-employment benefit plans during the annual period beginning after the end of the reporting period amount to approximately CHF 788 thousand.

 

C.Change in net defined benefit liability

 

 

For the Years Ended

December 31,

in CHF thousands 2018   2017   2016
Net defined benefit liabilities as of January 1 4,926   3,798   2,787
Net pension cost through statement of income 1,130   938   761
Re-measurement through other comprehensive loss 302   780   761
Employer’s contribution (693)   (590)   (511)
Net defined benefit liabilities as of December 31 5,665   4,926   3,798

 

D.Change in other comprehensive loss

 

 

For the Years Ended

December 31,

in CHF thousands 2018   2017   2016
Other comprehensive loss as of January 1 (3,981)   (3,201)   (2,440)
Effect of changes in demographic assumptions     (389)
Effect of changes in financial assumptions 750     (26)
Effect of changes in experience assumptions (888)   (735)   (378)
Plan assets gains/(losses) (164)   (45)   32
Other comprehensive loss as of December 31 (4,283)   (3,981)   (3,201)

 

The fair value of the plan assets is the cash surrender value of the insurance with AXA. The investment strategy defined by the board of trustees follows a conservative profile.

 

The plan assets are primarily held within instruments with quoted market prices in an active market, with the exception of real estate and mortgages.

 

The weighted average duration of the defined benefit obligation is 20.5 years as of December 31, 2018 and 2017 respectively.

 

The actuarial assumptions used for the calculation of the pension cost and the defined benefit obligation of the defined benefit pension plan for the year 2018, 2017 and 2016 are as follows: 

 

 

For the Years Ended

December 31, 

  2018   2017   2016
Discount rate 0.90%   0.70%   0.70%
Rate of future increase in compensations 1.50%   1.50%   1.50%
Rate of future increase in current pensions 0.50%   0.50%   0.50%
Mortality and disability rates BVG 2015G   BVG 2015G   BVG 2015G

 

In defining the benefits, the minimum requirements of the Swiss Law on Occupational Retirement, Survivors and Disability Pension Plans (BVG) and its implementing provisions must be observed. The BVG defines the minimum pensionable salary and the minimum retirement credits.

 

 F-31


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