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PBR » Topics » 18.5 The balance of the provisions for expenses associated with post-retirement benefits, calculated by independent actuaries, shows the following movements:

This excerpt taken from the PBR 6-K filed Aug 13, 2008.

18.5 The balance of the provisions for expenses associated with post-retirement benefits, calculated by independent actuaries, shows the following movements:

    R$ thousand 
   
    Consolidated    Parent Company 
     
    Defined 
Benefit 
Pension 
Plan 		   Variable 
Contrib. 
Pension 
Plan 		   Supplem.
Medical
Assistance 		  

Defined 
Benefit 
Pension
Plan 

   Variable 
Contrib. 
Pension 
Plan 		   Supplem. 
Medical
Assistance 
             
Balance at January 1, 2008    4.927.134    17.270    9.727.919    4.509.080    15.683    8.983.942 
(+) Costs incurred during the period    439.054    68.421    767.094    366.275    66.864    717.083 
(-) Payment of contributions    (227.832)   (143.219)   (209.173)   (207.631)   (137.636)   (197.234)
Others    1.219                     
             
Balance at end of 2nd Quarter, 2008    5.139.575    (57.528)   10.285.840    4.667.724    (55.089)   9.503.791 
             
 
Current liabilities    407.933    15.714    455.736    370.408    15.683    429.666 
Non-current liabilities    4.731.642    (73.242)   9.830.104    4.297.316    (70.772)   9.074.125 

According to calculations performed by independent actuaries, the net expense on pension and retirement benefits plans awarded and to be awarded to employees, retired employees and pensioners, and healthcare plans for 2008 includes the following components:

    R$ thousand 
   
    Consolidated    Parent Company 
     
    Defined    Variable        Defined    Variable     
    Benefit    Contrib.    Supplem.    Benefit    Contrib.    Supplem. 
    Pension    Pension    Medical    Pension    Pension    Medical 
    Plan    Plan    Assistance    Plan    Plan    Assistance 
             
Current service cost    256.447    80.914    98.843    201.828    78.344    90.070 
Interest cost    2.069.488    18.969    613.883    1.939.355    18.320    573.033 
Estimated return on the plan’s assets    (1.720.151)   (16.392)       (1.619.506)   (15.771)    
Amortization of unrecognized                         
    gains/losses    2.615    1.414    52.493            52.105 
Contributions from participants    (181.040)   (53.582)       (166.683)   (51.056)    
Unrecognized cost of the past service    11.394    37.098    1.898    11.291    37.027    1.898 
Others    301        (23)   (10)       (23)
             
Net cost up to 2nd Quarter, 2008    439.054    68.421    767.094    366.275    66.864    717.083 
             

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