The weighted averages for those assumptions and related sensitivity information at December 31 are presented below. Sensitivity information indicates by how much the defined benefit obligations would increase or decrease if a given assumption were to increase or decrease with no change in other assumptions.
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$ million, except where indicated |
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Effect of using alternative assumptions |
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Assumptions used |
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Increase/(decrease) in defined benefit obligations |
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2017 |
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2016 |
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Range of assumptions |
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2017 |
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2016 |
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Rate of increase in pensionable remuneration |
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5% |
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5% |
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-1% to +1% |
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(2,150) to 2,782 |
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(1,895) to 2,504 |
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Rate of increase in pensions in payment |
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2% |
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2% |
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-1% to +1% |
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(10,120) to 12,662 |
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(8,850) to 11,271 |
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Rate of increase in healthcare costs |
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7% |
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7% |
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-1% to +1% |
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(451) to 551 |
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(455) to 555 |
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Discount rate for pension plans |
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3% |
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3% |
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-1% to +1% |
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19,042 to (14,567) |
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16,904 to (12,912) |
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Discount rate for healthcare plans |
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4% |
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4% |
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-1% to +1% |
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599 to (483) |
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662 to (528) |
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Expected age at death for persons aged 60: |
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Men |
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87 years |
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87 years |
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-1 year to +1 year |
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(1,906) to 2,022 |
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(1,743) to 1,797 |
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Women |
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89 years |
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89 years |
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-1 year to +1 year |
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(1,720) to 1,828 |
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(1,484) to 1,530 |
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