13 Personnel Expenses
in € million |
|
2017 |
|
2018 |
|
|
|
|
|
|
|
Wages and salaries |
|
342.1 |
|
423.3 |
|
Social security, pensions and other employee benefits |
|
73.9 |
|
89.8 |
|
|
|
416.0 |
|
513.1 |
|
|
|
|
|
|
|
The personnel expenses include expenses for severance payments in the amount of € 6.8 million (2017: € 10.3 million), allocations to the provisions for pre-retirement part-time work arrangements in the amount of € 3.0 million (2017: € 6.0 million) and expenses for the long-term incentive plan (LTIP) at € 7.2 million (2017: € 12.0 million) (see Chapter [33] Provisions).
In the fiscal year under review, employers’ contributions to statutory pension insurance amounted to € 33.2 million (2017: € 28.9 million).
As of December 31, 2018, Vonovia had 9,923 employees (Dec. 31, 2017: 8,448), with the annual average coming to 9,757 employees (2017: 8,300). Vonovia also employed 485 trainees as of December 31, 2018 (Dec. 31, 2017: 462).