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SEC Filings

20-F
AC IMMUNE SA filed this Form 20-F on 03/21/2019
Entire Document
 

 

The pension plan is exposed to Swiss inflation, interest rate risks and changes in the life expectancy for pensioners. For accounting purposes under IFRS, the plan is treated as a defined benefit plan. 

 

The following table sets forth the status of the defined benefit pension plan and the amount that should be recognized in the balance sheet:

 

 

As of

December 31,

in CHF thousands 2018   2017   2016
Defined benefit obligation (17,942)   (14,278)   (11,596)
Fair value of plan assets 12,277   9,352   7,798
Total liability (5,665)   (4,926)   (3,798)

 

The following amounts have been recorded as net pension cost in the statement of income:

 

 

For the Years Ended

December 31,

in CHF thousands 2018   2017   2016
Service cost 1,095   912   742 
Interest cost 100   81   75 
Interest income (65)   (55)   (56)
Net pension cost 1,130   938    761

 

The changes in defined benefit obligation, fair value of plan assets and unrecognized (gains) / losses are as follows:

 

A.Change in defined benefit obligation

 

 

For the Years Ended

December 31,

in CHF thousands 2018   2017   2016
Defined benefit obligation as of January 1 (14,278)   (11,596)   (9,439)
Service cost (1,095)   (912)   (742)
Interest cost (100)   (81)   (75)
Change in demographic assumptions     (389)
Change in financial assumptions 750     (26)
Change in experience assumptions (888)   (735)   (378)
Benefit payments (1,710)   (426)   (111)
Employees’ contributions (621)   (528)   (436)
Defined benefit obligation as of December 31 (17,942)   (14,278)   (11,596)

 

B.Change in fair value of plan assets

 

 

For the Years Ended

December 31,

in CHF thousands 2018   2017   2016
Fair value of plan assets as of January 1 9,352   7,798   6,652
Interest income 65   55   56
Employees’ contributions 621   528   436
Employer’s contributions 693   590   511
Benefits payments 1,710   426   111
Plan assets gains/(losses) (164)   (45)   32
Fair value of plan assets as of December 31 12,277   9,352   7,798

 

 F-30


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