Accruals and deferred income as at 31 December 2018 amount to €42 million (31 December 2017: €42 million).The accruals include the non-current part of the outstanding pension contributions for employees (€10 million, compared with €21 million as at 31 December 2017) due to the new pension agreement between the Railway Pensions Fund and NS, as explained in note 29. Over the coming years up to 2022, the item will be settled with the employees based on the discount with respect to the nominal contribution as laid down in the NS collective labour agreement.

Accruals and deferred income include funds received in connection with the FENS agreement. At the end of 2012, as a result of the effect of the addendum to the FENS framework agreement, NS had a amount received. The total outstanding liability (€ 32 million) has been disbursed through project decisions. For the part that has a term of more than one year, a sum of € 20 million is included under accruals and deferred income.