NOTES TO INDIVIDUAL ITEMS IN THE COMPANY AND GROUP INCOME STATEMENTS
INCOME
COMPANY
STATEMENT
INCOME
GROUP
STATEMENT
2001 1
■VTiliFB
2001
PERSONNEL AND OTHER ADMINISTRATIVE COSTS
Personnel costs:
salaries
8,953
9,632
9,530
9,992
social security costs
1,397
1,167
1,466
1,217
pension charges
1,463
1,243
1,492
1,250
other personnel costs
671
789
711
802
12,484
12,831
13,199
13,261
PENSION SCHEMES
The bank's pension scheme is administered hy De Stichting Pensioenfonds FGH Bank. Pension costs are determined statistically
and are charged to income on an annual basis. 29
Contributions are charged annually to the income statement of FGH Bank N.V. The amount of the contributions takes account
of increases in pension rights based upon pay growth and inflation, and the return achieved by the pension fund in excess of the
actuarial rate, which is 4% in the Netherlands.
The scheme is a conditional index-linked average salary scheme. For employees who were members of the scheme as at
31 December 2001, a transitional scheme applies, based upon a conditional indexed final salary scheme.
An early retirement scheme has been introduced as from 1 January 2002.
If the cover percentage including investments reserves of the pension fund is lower than 105%, then the employer will need
to raise this percentage to 105% by a one-off contribution.
According the latest estimate from the pension fund the cover percentage at the end of 2002 will be higher than 105%.
The average number of staff employed by FGH Bank during the year was 166 (2001: 180).
The remuneration paid to members of the Managing Board and payments made to former members of the Managing Board
amounted to 1,0 million (2001: 1,0 million).
Fees paid to members of the Supervisory Board amounted to 0,1 million (2001: 0,1 million).
The Supervisory Board consisted of five members on 31 December 2002.
There were no value of loans granted to Managing Board and Supervisory Board members (2001: 0,2 million).
Other administrative expenses:
accommodation costs
559
551
648
618
services provided by third parties
1,627
1,149
1,657
1,141
office costs
890
864
902
878
other costs
2,164
2,477
2,358
2,642
5,240
5,041
5,565
5,279
