Pension plan

Ansaldo STS manages pension plans with its employees in accordance with the laws in place in the various countries in which it operates. Changes in defined benefit plans and post-employment benefits are shown below:

(EUR €)Post-employment benefitsDefined benefit plan
Value as at 31 December 2016 18,294 17,754
Cost (of the service and interest) 932 1,170
Contributions paid (666) (960)
Other changes (1) (25)
Actuarial gains (losses) recognized in equity  938 136
Value as at 31 December 201712 19,497 18,075

12 The main actuarial assumptions applied are as follows: post-employment benefits - discount rate 1.5%, turnover rate 2.09%-5.69%; defined benefit plan - discount rate 1.4%, salary increase rate 2.5%, turnover rate 0.91%-3.26%.

The average term of post-employment benefits is 14 years while that of the other defined benefit plans is 18 years.