| (in million euros) | August 31, 2022 | September 1, 2021 |
Impact of changes in accounting principles(2) |
August 31, 2021 |
|---|---|---|---|---|
| Post-employment benefits – Net defined benefit plan obligation | Post-employment benefits – Net defined benefit plan obligation August 31, 2022 131 |
Post-employment benefits – Net defined benefit plan obligation September 1, 2021 158 |
Post-employment benefits – Net defined benefit plan obligation
Impact of changes in accounting principles(2) (13) |
Post-employment benefits – Net defined benefit plan obligation August 31, 2021 171 |
| Other long-term employee benefits | Other long-term employee benefits August 31, 2022 151 |
Other long-term employee benefits September 1, 2021 186 |
Other long-term employee benefits
Impact of changes in accounting principles(2) — |
Other long-term employee benefits August 31, 2021 186 |
|
Post-employment benefits – Net defined benefit plan assets(1) |
Post-employment benefits – Net defined benefit plan assets(1) August 31, 2022 (150) |
Post-employment benefits – Net defined benefit plan assets(1) September 1, 2021 (10) |
Post-employment benefits – Net defined benefit plan assets(1) Impact of changes in accounting principles(2) — |
Post-employment benefits – Net defined benefit plan assets(1) August 31, 2021 (10) |
| Employee benefits | Employee benefits August 31, 2022 132 |
Employee benefits September 1, 2021 334 |
Employee benefits Impact of changes in accounting principles(2) (13) |
Employee benefits August 31, 2021 347 |
(1)Included in “Other non-current assets” in the consolidated statement of financial position.
(2)Impact of the application of the IFRS Interpretation Committee decision related to IAS 19 (May 2021). See note 2.1.2 "New accounting standards and interpretations applied".
Under a defined contribution plan, periodic contributions are made to an external entity that is responsible for the administrative and financial management of the plan. Under such a plan, the employer is relieved of any future obligation (the external entity is responsible for paying benefits to employees as they become due and the employer is not required to make additional payments related to prior or current years if the entity does not have sufficient funds).
Contributions to defined contribution plans – which were recognized in operating expenses – amount to 390 million euros for Fiscal 2022, compared to 401 million euros for Fiscal 2021.
Contributions made by the Group are expensed in the period to which they relate.
The characteristics of Sodexo’s principal defined benefit plans are described below:
The United Kingdom plan is regularly evaluated by the plan’s actuary in compliance with UK law. A formal actuarial valuation by the plan’s actuary is required to be conducted every three years, and any shortfall identified at that time must be addressed through mutual agreement between the plan’s Trustee and Sodexo UK. Following a consultation process with the members of the pension plan carried out with a view to freezing benefit accruals for certain members, an agreement was signed in October 2012 between the plan’s Trustee and Sodexo UK whereby from November 1, 2012 the plan would remain open only to employees who transferred to Sodexo UK from the public sector, as Sodexo UK has a legal obligation to pay them certain benefits. As part of the 12-year plan to address the funding shortfall, Sodexo UK also agreed to pay annual contributions of (i) 10 million pounds Sterling per year over the five years from January 1, 2013 and (ii) 7.5 million pounds Sterling per year over the following seven years. Lastly, in October 2012, Sodexo S.A.issued a Parent company guarantee to the Trustee in order to cover Sodexo UK’s obligations in connection with the plan. This guarantee initially fixed for an amount up to 100 million pounds Sterling for a duration of 12 years, has been changed to 40 million pounds Sterling after an employer contribution of 60 million pounds Sterling during Fiscal 2022. On completion of the most recent valuation of the fund in July 2016, Sodexo UK and the Trustee agreed to keep unchanged the amount of contributions and the terms and conditions of the Parent company guarantee as set in October 2012.
In Continental Europe other than France, the main defined benefit plans are as follows:
