16 Personnel Expenses
in € million |
2019 |
2020 |
|---|---|---|
|
|
|
Wages and salaries |
436.7 |
488.0 |
Social security, pensions and other employee benefits |
99.0 |
106.9 |
|
535.7 |
594.9 |
|
|
|
The personnel expenses include expenses for severance payments in the amount of € 3.6 million (2019: € 3.1 million), allocations to the provisions for pre-retirement part-time work arrangements in the amount of € 0.4 million (2019: € 2.3 million) and expenses for the long-term incentive plan (LTIP) at € 17.5 million (2019: € 15.3 million) (see chapter [E38] Provisions).
In the fiscal year under review, employers’ contributions to statutory pension insurance amounted to € 41.4 million (2019: € 37.9 million).
As of December 31, 2020, Vonovia had 10,622 employees (Dec. 31, 2019: 10,345) with the annual average coming to 10,572 employees (2019: 10,114). Vonovia also employed 510 apprentices as of December 31, 2020 (Dec. 31, 2019: 473).