Development of personnel expenses

Our personnel expenses fell by 1.8 per cent to €7.2 billion compared with the same period of the previous year (2012/13: €7.3 billion). Of that amount, €5.8 billion (2012/13: €6.0 billion) was attributable to wages and salaries, including income taxes and employee contributions to social insurance programmes. The rest was attributable to social welfare contributions, post-employment benefits plans and employee benefits.

We encourage our staff to set up their own private pension accounts. Our group-wide future package provides them with voluntary benefits that exceed the collective bargaining standards generally seen in the industry. In the reporting period, 55,064 employees in Germany took advantage of these benefits (2012/13: 55,579 employees). This represents a share of 53.9 per cent (2012/13: 53.9 per cent).

For more information about personnel expenses, see the notes to the consolidated financial statements in no. 16 Personnel expenses.