Varma - Annual Report 2012

31. Guarantees and liabilities, Parent Company
31 Dec, € million20122011
Investment commitments
Private equity funds3,196.41,034.6
Other funds1,216.0352.8
Pension liabilities
Pension commitments1.01.2
Leasing and renting liabilities
Expiring next year0.90.8
Expiring later1.10.7
Other liabilities
Varma Mutual Pension Insurance Company belongs to a value-added tax liability group together with eFennia Oy, Veritas Pension Insurance, Fennia Asset Management Ltd, Mutual Insurance Company Pension Fennia, Mutual Insurance Company Fennia, Suomen Vahinkotarkastus SVT Oy, Tieto Esy Ltd and Fennia Life Insurance Company, and real estate companies owned by the aforementioned companies.
Group members are collectively responsible for the value-added tax payable by the group5.96.1
Obligation to verify VAT allowances of real estate investments130.0144.6
Loaned securities
Nominal value1,219.01,456.6
Remaining acquisition cost1,277.31,541.9
Fair value1,352.61,625.5
Loaned securities are included in the balance sheet. The counterparty to the lending operations is the custodian bank, Northern Trust Co. London, with which borrowers post collateral. The collateral of the loans are securities. Loans can be cancelled at any time.