2012 Half year financial report


In thousands of euroAs of 30 June 2012As of 31 December 2011Change
Retirement funds 1,603 1,191 412
Post-employment benefits 45,889 45,412 477
Total 47,492 46,603 889

Retirement funds comprise provisions for employees allocated by foreign companies and additional customer indemnity provisions, which represent the compensation due to agents in the case of the agency contract being terminated for reasons beyond their control. Uses refer to the payment of benefits already accrued in previous years, while allocations refer to benefits accrued in the period.