21. Employee expenses

Reference Areas:
Best Pratices in PZU

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

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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