Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
need to differentiate on terms of employment per division.
In addition, terms of employment topics play a role at the
group level, which must be updated. Unions recognise the
outlined developments and the parties have agreed to discuss
this further.
Policy changes in connection with changes of law
Rabo Real Estate Group falls under various regulations and
laws. Based on the changes in this legislation and regulations,
a number of adjustments took place with regard to
remuneration in 2015:
AIFMD
As of 2014, the Alternative Investment Fund Managers
Directive (AIFMD) is in force.This is a European guideline
that introduces harmonised rules for managers of alternative
investment institutions. This concerns, among other things,
rules regarding the remuneration policy and performance
management. This has an impact on the Bouwfonds Investment
Management division. In the reporting year, measures were
proposed and implemented based on the AlFMD-impact
analysis in order to meet the new European regulations.
Pension
Due to new legislation, the pension scheme was adjusted as of
1 January 2015.
Wbfo
In response to the Financial Undertakings Remuneration
Policy Act (Wbfo), starting from the performance year 2015,
the remuneration policy for the Executive Board and senior
management was adjusted.
Obvion
Since the CLA 2013-2015, Obvion fully falls within the scope
of the Rabobank CLA, including the remuneration package.
Therefore, for more information about the remuneration
package within Obvion, see the text about the CLA population.
112 Rabobank Annual Report 2015
