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21. Employee expenses

Reference Areas:
Health
Investments
Banking
Best Pratices in PZU

Employee expenses1 January – 31 December 20171 January – 31 December 2016
Payroll3,4712,117
Defined contribution plans, including:636407
- charges on salary568342
- 3rd pillar pension insurance, including costs of Employee Pension Plan contributions incurred in the period6765
Other163131
Total employee expenses4,2702,655
note_21_tab_1_pzu_en.xlsx

In 2016-2017, PZU, PZU Życie and PZU CO had third pillar pension plans for their employees, which were defined contribution plans. The employer additionally paid 7% of the gross salary amount as a contribution to these plans.

Employee expenses are recognized under “Claims and movement in technical provisions”, “Acquisition expenses”, “Administrative expenses” and “Other operating expenses” in the consolidated profit and loss account.

 

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