Impact on Consolidated Balance Sheet 28. Retirement Benefit Obligations  | continued CRH 111 Eurozone Britain and Northern Ireland Switzerland United States Total Group 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 €m €m €m €m €m €m €m €m €m €m Equities  357   323   333   254   191   190   91   96   972   863  Bonds  246   196   210   225   224   240   73   58   753   719  Property  29   31   42   37   133   129   1   -  205   197  Other  78   16   12   9   113   69   9   5   212   99  Bid value of assets  710   566   597   525   661   628   174   159   2,142   1,878  Actuarial value of liabilities (present value) (1,055) (926) (705) (652) (785) (715) (271) (249) (2,816) (2,542) Recoverable deficit in schemes (345) (360) (108) (127) (124) (87) (97) (90) (674) (664) Related deferred income tax asset  51   54   25   33   25   17   38   36   139   140  Net pension liability (294) (306) (83) (94) (99) (70) (59) (54) (535) (524) Split of asset values % % % % % % % % % % Equities  50.3   57.1   55.8   48.4   28.9   30.3   52.3   60.4   45.3   45.9  Bonds  34.6   34.6   35.2   42.9   33.9   38.2   42.0   36.5   35.2   38.3  Property  4.1   5.5   7.0   7.0   20.1   20.5   0.5   -  9.6   10.5  Other  11.0   2.8   2.0   1.7   17.1   11.0   5.2   3.1   9.9   5.3  Total  100   100   100   100   100   100   100   100   100   100  The asset values above include €nil million in respect of investment in Ordinary Shares of the Company (CRH plc) as at 31 December 2012 (2011: €1 million). An increase of 25 basis points in the rate of return on scheme assets would have increased scheme assets by €5 million and hence reduced the pension deficit  before deferred tax to €669 million.  Analysis of liabilities - funded and unfunded Funded defined benefit pension schemes (1,009) (876) (705) (652) (780) (710) (260) (236) (2,754) (2,474) Unfunded defined benefit pension schemes (39) (36)  -  -  -  - (7) (6) (46) (42) Total - defined benefit pension schemes (1,048) (912) (705) (652) (780) (710) (267) (242) (2,800) (2,516) Post-retirement healthcare obligations (unfunded)  - (7)  -  -  -  - (4) (7) (4) (14) Long-term service commitments (unfunded) (7) (7)  -  - (5) (5)  -  - (12) (12) Actuarial value of liabilities (present value) (1,055) (926) (705) (652) (785) (715) (271) (249) (2,816) (2,542) The impact of a reduction of 25 basis points in the discount rates applied would be as follows (with a corresponding increase in discount rates being inversely  proportional): Revised discount rate  3.55   4.75   4.25   4.45   1.60   2.10   3.50   4.35   n/a   n/a  Revised liabilities figure (1,099) (960) (740) (687) (821) (746) (280) (258) (2,940) (2,651) Post-retirement healthcare benefits - sensitivity analysis on key actuarial assumptions The impact of the sensitivity analysis on the key actuarial assumptions employed in the valuation of post-retirement healthcare benefits as required under IAS 19 Employee Benefits  is not material to the Group. History of scheme assets, liabilities and actuarial gains and losses 2012 2011 2010 2009 2008 €m €m €m €m €m Bid value of assets   2,142   1,878   1,815   1,605   1,414  Actuarial value of liabilities (present value) (2,816) (2,542) (2,289) (2,059) (1,828) Recoverable deficit (674) (664) (474) (454) (414) Actual return less expected return on scheme assets  116  (104)  33   113  (477) % of scheme assets 5.4% (5.5%) 1.8% 7.0% (33.7%) Experience gain/(loss) arising on scheme liabilities (present value)  16   31   36  (13) (15) % of scheme liabilities (present value) (0.6%) (1.2%) (1.6%) 0.6% 0.8% The net pension liability (comprising funded and unfunded defined benefit pension schemes and unfunded post-retirement healthcare obligations and long-term  service commitments) as at 31 December 2012 and 31 December 2011 is analysed as follows: