The movements under this heading in 2019 were as follows:
The provision of 3,887,632 euros recorded at 31 December 2019 corresponds to non-current and current provisions for the pensions payable to staff who have retired or taken early retirement, in line with the defined benefits model based on the pension regulations established by the General Council on 29 July 1981, the Government Decree on early retirement of 5 June 1996 and the internal Regulation approved by the Board of Directors on 12 March 2009.
The amounts provided at 31 December 2019 are based on an actuarial assessment of 31 December 2018, of the specific present and future commitments contracted on 31 December 2015. The actuarial valuation is based on the PERMF2000 mortality and disability tables. The financial/actuarial valuation is performed using the Projected Unit Credit method based on generally accepted actuarial principles. The non-current amount is added to the non-current supply of the balance sheet.
100% of the Company’s current permanent staff are signed up to the defined contributions model approved by the Board of Directors on 20 November 2014. The Company has outsourced the management of these funds with effect from 7 February 2017. In line with current regulations, from that date the Company has matched any contributions made by staff, up to a limit of 3% of their eligible salary.
It is also included the non-current provisions and current provisions of the balance sheet, the acquired commitments to Actua Tech Foundation for an amount of 3.7 and 0.8 million euros, in relation to the country digital transformation programme (see in note 22).