The Non-State Pension Provision Program 2014 for the employees of JSC IDGC of the North-West (hereinafter, the Program) was approved by the Company’s Board of Directors on December 28, 2013 (Minutes No. 144/15). The main purpose of the Program is to provide worthy living standard of the Company’s employees at pension age, and creating the conditions for effective solving of personnel issued, such as decrease of staff turnover and keeping the employees in the power supply system. In 2014, the Company continued cooperation with Non-State Pension Fund of the Power Industry (hereinafter, the Power Industry NSPF) within the framework of implementation of non-state pension provision Program for employees in four areas:
Within the framework of the approved Program, the Company implemented the Co-Financing Program in 2014 pursuant to Federal Law No.
Non-state pension expenditure totaled RUB 71 million in 2014, including RUB 14 million for the Parity Plan Program, RUB 52 million for Corporate Plan Program, and RUB 5 million for the Co-Financing Program.
In 2014, non-state pension was received by 3,363 retired employees; and the size of the non-state pension in the first place depends on the employee’s salary, length of work in the power industry, as well as government, industry and corporate awards. Understanding the social importance of material support of employees after retirement, the Company’s management annually seeks opportunities to finance non-state pensions under the conditions of exclusion of these costs from tariffs by regional tariff regulatory bodies.
|Branch/IDGC||Non-state pension expenses, RUB mln|
|IDGC of the North-West||77||77||71|