308 BMW Group Report 2024 To Our Stakeholders Combined Management Report Group Financial Statements Responsibility Statement and Auditor’s Report Remuneration Report Other Information Notes to the Group Financial Statements 33 Pension provisions In the case of defined benefit plans, the BMW Group is required to pay the benefits it has granted to present and past employees. Defined benefit plans may be covered by provisions or pension assets. In Germany, pension obligations of the BMW Group are almost entirely covered by assets transferred to BMW Trust e.V., Munich (BMW Trust), in conjunction with a Contractual Trust Ar- rangement (CTA) (funded plan). In addition, funded plans also exist in the UK as well as in the USA, Switzerland, Belgium and Japan. In the meantime, all of the main defined benefit plans have been closed for new entrants and replaced by defined con- tribution plans. The assumptions stated below, which depend on the economic situation in the relevant country, are used to measure the defined benefit obligation of each pension plan. The following weighted average values have been used for Germany, the UK and other countries: The following mortality tables are applied in countries in which the BMW Group has significant defined benefit plans: Germany United Kingdom Other in % 31.12.2024 31.12.2023 31.12.2024 31.12.2023 31.12.2024 31.12.2023 Discount rate 3.36 3.19 5.48 4.54 6.13 5.57 Pension level trend 2.01 2.24 2.28 2.17 – – Weighted duration of all pension obligations in years 13.0 13.8 12.1 13.1 12.2 12.8 Germany Mortality Table 2018 G issued by Prof. K. Heubeck (with invalidity rates reduced by 70%) United Kingdom S4PA Tables and CMI_2023 model with improvement factor of 1.25%