CSL Ltd Annual Report 2020

CSL Limited Annual Report 2020 130 Notes to the Financial Statements Note 18: Detailed Information – People Costs (a) Defined benefit plans The Group sponsors a range of defined benefit pension plans that provide either a lump sum or ongoing pension benefit for its worldwide employees upon retirement. Entities of the Group who operate defined benefit plans contribute to the respective plans in accordance with the Trust Deeds, following the receipt of actuarial advice. The surplus/deficit for each defined benefit plan operated by the Group is as follows: Pension Plan June 2020 $m June 2019 $m Plan Assets Accrued benefit Plan surplus/ (deficit) Plan Assets Accrued benefit Plan surplus/ (deficit) CSL Pension Plan (Australia) – provides a lump sum benefit upon exit 17.8 (18.6) (0.8) 20.3 (19.0) 1.3 CSL Behring AG Pension Plan (Switzerland) – provides an ongoing pension 649.7 (730.5) (80.8) 582.6 (664.4) (81.8) CSL Behring Union Pension Plan (USA) – provides an ongoing pension 68.0 (66.6) 1.4 62.2 (62.0) 0.2 CSL Behring GmbH Supplementary Pension Plan (Germany) – provides an ongoing pension – (226.9) (226.9) – (190.0) (190.0) bioCSL GmbH Pension Plan (Germany) – provides an ongoing pension – (3.0) (3.0) – (2.9) (2.9) CSL Behring KG Pension Plan (Germany) – provides an ongoing pension – (17.7) (17.7) – (14.7) (14.7) CSL Plasma GmbH Pension Plan (Germany) – provides an ongoing pension – (0.3) (0.3) – (0.3) (0.3) CSL Behring KK Retirement Allowance Plan (Japan) – provides a lump sumbenefit upon exit – (15.4) (15.4) – (14.7) (14.7) CSL Behring S.A. Pension Plan (France) – provides a lump sum benefit upon exit – (1.5) (1.5) – (1.4) (1.4) CSL Behring S.p.A Pension Plan (Italy) – provides a lump sum benefit upon exit – (1.1) (1.1) – (1.2) (1.2) Total 735.5 (1,081.6) (346.1) 665.1 (970.6) (305.5) In addition to the plans listed above, CSL Behring GmbH and Seqirus GmbH employees are members of multi-employer plans administered by an unrelated third party. CSL Behring GmbH, Seqirus GmbH and their employees make contributions to the plans and receive pension entitlements on retirement. Participating employers may have to make additional contributions in the event that the plans have insufficient assets to meet their obligations. However, there is insufficient information available to determine this amount on an employer by employer basis. The contributions made by CSL Behring GmbH and Seqirus GmbH are determined by the Plan Actuary and are designed to be sufficient to meet the obligations of the plans based on actuarial assumptions. Contributions made by CSL Behring GmbH and Seqirus GmbH are expensed in the year in which they are made.