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 benefits||Defined benefit plan|
|Value as at 31 December 2016||18,294||17,754|
|Cost (of the service and interest)||932||1,170|
|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.