Note 15: Financial non-current assets
In € millions |
2019 |
2020 |
|---|---|---|
Pension assets |
1,418 |
1,543 |
Loans and receivables |
336 |
331 |
Other financial non-current assets |
108 |
77 |
Total |
1,862 |
1,951 |
Pension assets (€1,543 million) relate to pension plans in an asset position (2019: €1,418 million). For more information on post-retirement benefit provisions, refer to Note 19.
Loans and receivables include the subordinated loan of €87 million (2019: €88 million) granted to the Pension Fund APF in the Netherlands and the non-current part of an escrow account related to the pre-funding of the Akzo Nobel (CPS) Pension Scheme in the UK amounting to €71 million (2019: €105 million), invested in corporate bonds. Under certain conditions, the minimum annual funding of this pension fund from the escrow account is €29 million (£26 million). The current portion of the escrow account is reported as other receivables within trade and other receivables, refer to Note 17.