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P16 Provisions for pension and other non-current post-employment benefits

The Parent Company’s recognized pension provision was SEK 848 million (551). The Parent Company’s PRI pensions are secured through Sandvik’s own pension foundation, the Sandvik Pension Foundation in Sweden. Sandvik AB and most of its Swedish subsidiaries are members of the foundation. The deficit was recognized as a liability in the companies. The Parent Company’s funded obligations mainly comprise ITP Plans.

 

2022

2023

Present value of funded and unfunded pension obligations

2,319

2,655

Plan assets

1,884

1,885

Deficit in the assets of the pension foundation

–116

–79

Net amount recognized for pension obligations

–551

–848