11 Personnel Expenses

in € million

 

2016

 

2015

 

 

 

 

 

Wages and salaries

 

290.4

 

307.6

Social security, pensions and other employee benefits

 

63.4

 

52.1

 

 

353.8

 

359.7

The personnel expenses include expenses for severance payments in the amount of € 12.0 million (2015: € 71.5 million), allocations to the provisions for pre-retirement part-time work arrangements in the amount of € 7.8 million (2015: € 8.4 million) and expenses for the long-term incentive plan (LTIP) at € 7.8 million (2015: € 8.2 million) (see note [30] Provisions).

In the fiscal year under review, employers’ contributions to statutory pension insurance amounted to € 24.2 million (2015: € 20.0 million).

As of December 31, 2016, Vonovia had 7,437 employees (Dec. 31, 2015: 6,368). On an annual average, 6,937 people (2015: 6,027) were employed. As of December 31, 2016, Vonovia had 419 apprentices (Dec, 31, 2015: 352).