The group’s Supervisory Board has decided to change top management’s pension scheme from a defined benefit to a defined contribution plan. This is expected to reduce costs by €34m in 2015 but unspecified transition costs have to be deducted. For future years, the group is also expected to contribute less to the pension scheme, but this number is again not specified. The Supervisory Board has decided to redistribute all these savings to all employees which will allow it to top
17 Dec 2015
Management’s pension cost savings will go to all employees
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Management’s pension cost savings will go to all employees
- Published:
17 Dec 2015 -
Author:
Hans-Peter Wodniok -
Pages:
2
The group’s Supervisory Board has decided to change top management’s pension scheme from a defined benefit to a defined contribution plan. This is expected to reduce costs by €34m in 2015 but unspecified transition costs have to be deducted. For future years, the group is also expected to contribute less to the pension scheme, but this number is again not specified. The Supervisory Board has decided to redistribute all these savings to all employees which will allow it to top