NATIXIS -2020 Universal Registration Document
5 FINANCIAL DATA
Consolidated financial statements and notes
31/12/2020
31/12/2019
Post-employment defined-benefit plan
Other long-term employee benefits
Post-employment defined-benefit plan
Other long-term employee benefits
Supple- mentary pension benefits and other
Supple- mentary pension benefits and other
End-of- career awards
Long- service awards
End-of- career awards
Long- service awards
Other
Other
Discount rate (excluding Time Savings Account)
1.52% 1.87%
0.08% 1.60%
0.07% 1.60%
1.96% 1.60%
1.91% 2.37%
0.35% 1.61%
0.41% 1.61%
2.07% 1.63%
Inflation rate
Salary growth rate (including inflation)
2.32%
2.26%
2.28%
2.96%
2.94%
2.26%
2.26%
3.37%
Rate of change in medical costs (inflation included)
3.22%
3.00%
Duration (in years)
15
9
10
13
15
9
9
13
Wage growth including inflation is determinedusing the average rate of real compensation growth over the past six years. This wage growth is capped at the maximum nominal rate of increase seen over the same period.
The discount rate is determined based on the yields of AA-rated corporate bonds of the same duration. This benchmark is obtained from the Bloomberg “EUR Composite (AA) Zero Coupon Yield” yield curve. For end-of-career awards and long-service awards, employee turnover is calculated by age bracket and grade based on a six-year average. A rate of 0% is used for employees aged 60 and over.
h) Analysis of sensitivity to key assumptions
31/12/2020
31/12/2019
Post-employment defined-benefit plan
Other long-term employee benefits
Post-employment defined-benefit plan
Other long-term employee benefits
Supple- mentary pension benefits and other
Supple- mentary pension benefits and other
End-of- career awards
Long- service awards
End-of- career awards
Long- service awards
Other
(as a percentage)
Other
+0.5% change in discount rate (0.5)% change in discount rate
(9.92)% (5.58)% (4.36)% (1.18)% (9.99)% (5.58)% (5.14)% (1.89)%
11.87%
6.10%
4.69%
1.33% 11.98%
6.79%
5.66%
1.98%
+1% change in growth rate of healthcare costs (1)% change in growth rate of healthcare costs +1% change in growth rate of salaries and income (incl. inflation) (1)% change in growth rate of salaries and income (incl. inflation)
1.10%
1.19%
(0.91)%
(0.99)%
10.35% 12.41%
8.84%
11.39% 12.24%
8.03%
(8.58%)
(10.60%)
(7.80%)
(9.93)% (10.20)% (7.14)%
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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020
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