Notes to the Financial Statements Note 18: Detailed Information – People Costs (a) Defined benefit plans 25 T he CSL Behring AG and CSL Vifor pension plans have asset surplus’ not recognised on the basis that future economic benefits are not available to the entity in the form of a reduction in future contributions or a cash refund. The plan assets have been recognised up to the asset ceiling limit. 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: 2023 US$m 2022 US$m Pension Plan Plan Assets Accrued benefit Plan surplus/ (deficit) Plan Assets Accrued benefit Plan surplus/ (deficit) Funded: CSL Pension Plan (Australia) – provides a lump sum benefit upon exit 15 (13) 2 15 (14) 1 CSL Behring AG Pension Plan (Switzerland) – provides an ongoing pension25 674 (674) – 621 (621) – CSL Vifor Pension Plan (Switzerland) – provides an ongoing pension25 453 (453) – – – – CSL Behring Union Pension Plan (USA) – provides an ongoing pension 41 (37) 4 45 (41) 4 Unfunded: CSL Behring GmbH Supplementary Pension Plan (Germany) – provides an ongoing pension – (150) (150) – (138) (138) CSL Behring Innovation GmbH Supplementary Pension Plan (Germany) – provides an ongoing pension – (25) (25) – (23) (23) bioCSL GmbH Pension Plan (Germany) – provides an ongoing pension – (2) (2) – (3) (3) CSL Behring KG Pension Plan (Germany) – provides an ongoing pension – (14) (14) – (12) (12) CSL Plasma GmbH Pension Plan (Germany) – provides an ongoing pension – – – – – – CSL Behring KK Retirement Allowance Plan (Japan) – provides a lump sum benefit upon exit – (11) (11) – (11) (11) CSL Behring S.A. Pension Plan (France) – provides a lump sum benefit upon exit – (1) (1) – (1) (1) CSL Behring S.p.A Pension Plan (Italy) – provides a lump sum benefit upon exit – (1) (1) – (1) (1) Total 1,183 (1,381) (198) 681 (865) (184) In addition to the plans listed, CSL Behring GmbH, CSL Behring Innovation GmbH and Seqirus GmbH employees are members of multi-employer plans administered by an unrelated third party. CSL Behring GmbH, CSL Behring Innovation 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, CSL Behring Innovation 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, CSL Behring Innovation GmbH and Seqirus GmbH are expensed in the year in which they are made. CSL Limited Annual Report 2022/23 152
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