Svenska SpelSvenska Spel

Note 18 - Other non-current liabilities

  Group   Parent Company
SEK million 2014 2013   2014 2013
Pension provisions 8 9   8 8
Retailer collateral 5 6   5 6
Other non-current liabilities  
Total 13 15   13 15

In certain cases, AB Svenska Spel requires retailer collateral based on ­individual assessment of each retailer which is held for the duration the retailer is active, thereby making it a non-current liability.

Pension provisions

Pension provisions are calculated in the Parent Company according to the Pension Obligations Vesting Act and reported in the balance sheet as a non-current liability.

Alecta manages large portions of the ITP plan, which are insured via Collectum. The collective consolidation level is determined as the market value of Alecta’s assets as a percentage of insurance commitments calculated in line with Alecta’s actuarial methods and assumptions, which do not comply with IAS 19. The collective consolidation level is normally ­permitted to vary between 125% and 155%. If Alecta’s collective con­solidation level falls below 125% or exceeds 155%, measures must be taken to create the requisite conditions for the level of consolidation to return to normal. One possible measure with a low consolidation level is to raise the contractual price for new subscriptions and expansion of existing benefits. One possible measure with a high consolidation level is to lower premiums. At the end of 2014, Alecta’s surplus in the form of the collective consolidation level was 1 to 144% (148%). In 2014, costs for the Group’s pension insurance amounted to SEK 65.0 million (64.3), of which those taken out with Alecta amounted to SEK 36.1 million (35.1).

Svenska Spel also has a smaller pension commitment through Svenska Spel’s Pension Foundation. The funds at the disposal of the foundation do not fully cover the pension commitments. The difference is recognised as a non-current liability in the balance sheet.