SECTION 7.4  Retirement benefit  obligations and similar obligations EXPECTED MATURITY AND DURATION MATURITY OF PENSION OBLIGATIONS 7.4  SIGNIFICANT ACCOUNTING  ESTIMATES AND JUDGEMENTS 7.4  ACCOUNTING POLICIES Retirement benefit obligations are primarily  expected to mature after 5 years. The non- discounted maturity is: The expected duration of the obligations  at year-end 2013 was 20 years, comprising  active employees at 26 years and retired  employees at 15 years. The duration is calculated using a weighted  average of the duration compared to the  benefit obligation. When calculating the value of the Group’s  defined benefit plans, a number of sig- nificant actuarial assumptions are made,  including discount rates, expected return on  plan assets, expected growth in wages and  salaries, mortality and retirement benefits.  The range and weighted average for these  assumptions are disclosed in the table. The value of the Group’s defined benefit  plans is based on valuations from external  actuaries. The actuarial assumptions underlying  the calculations and valuations vary from  country to country due to local economic  conditions and labour market conditions. The present value of the net obligation is  calculated based on the expected long- term interest rate in each country, where  available, based on long-term govern- ment bonds. Mortality assumptions are based on the  Group entity’s best estimate of the mortal- ity of plan members during and after em- ployment, and include expected changes in  mortality, for example using estimates of  mortality improvements. Due to the broad  range of entities comprising the retirement  benefit obligation, several different mortal- ity tables are used to calculate the future  retirement benefit obligation. A defined contribution plan is a post-employment  benefit plan under which the Group pays fixed  contributions into a separate entity and will have  no legal or constructive obligation to pay further  amounts. Contributions to defined contribution plans  are recognised in the income statement in the period  during which services are rendered by employees. Any  contributions outstanding are recognised in the state- ment of financial position as other liabilities. A defined benefit plan is a post-employment bene- fit plan other than a defined contribution plan. The  Group’s net obligation in respect of defined benefit  pension plans is calculated separately for each plan by  estimating the amount of future benefits that employ- ees have earned in return for their service in the current  and previous years. The future benefits are discounted  to determine the present value. The calculation is  performed annually by a qualified actuary.  The present value is determined on the basis of as- sumptions about the future development in variables  such as salary levels, interest rates, inflation and mor- tality. The actuarial present value less the fair value  of any plan assets is recognised in the statement of  financial position under retirement benefit obligations. Pension costs for the year are recognised in the  income statement based on actuarial estimates and  financial expectations at the beginning of the year.  Any difference between the expected development in  pension assets and liabilities and realised amounts at  year-end are designated as actuarial gains or losses  and recognised in other comprehensive income. If changes in benefits relating to services rendered by  employees in previous years result in changes in the  actuarial present value, the changes are recognised as  historical costs. Historical costs are recognised imme- diately, provided employees have already earned the  changed benefits. If employees have not earned the  benefits, the historical costs are recognised in the in- come statement over the period in which the changed  benefits are earned by the employees. If a retirement benefit plan constitutes a net asset,  the asset is only recognised if it offsets future refunds  from the plan or will lead to reduced future payments  to the plan. Interest on retirement benefit obligations and the  expected return on plan assets are recognised under  financial income or financial expenses. Realised gains and losses on the adjustment of retire- ment benefit obligations as a result of large-scale  termination of jobs in connection with restructurings  are recognised in the income statement under special  items. Realised gains and losses on the curtailment or settle- ment of retirement benefit plans are recognised in the  income statement under staff costs. Consolidated financial statements SECTION 7: STAFF COSTS AND REMUNERATION 126 Carlsberg Group Annual Report 2013 DKK million <1  year 1-5  years >5 years Total Pension benefits 365 1,808 18,441 20,614