10 EMPLOYEE INFORMATION.


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2011

2010

1.

The private equity investment vehicles are controlled by virtue of majority holdings owned by the with-profits part of the LTF. The increase in average employees during the year was driven by the acquisition of Snow + Rock Sports Limited and Amber Taverns Limited in September 2010 and October 2010 respectively. The £24m (2010: £12m) costs of employment for private equity investment subsidiaries primarily comprise salaries.

Average number of staff employed during the year:

 

 

 

UK

 

7,231

7,275

Europe

 

405

395

USA

 

422

401

Total excluding consolidated private equity investment vehicles

 

8,058

8,071

Consolidated private equity investment vehicles1

 

1,080

591

Worldwide employees

 

9,138

8,662

 

 

 

 

 

Notes

2011
£m

2010
£m

Salaries

 

332

316

Social security costs

 

41

38

Share-based incentive awards

16

22

20

Defined benefit pension costs

36

47

50

Defined contribution pension costs

36

37

35

Total excluding consolidated private equity investment vehicles

 

479

459

Consolidated private equity investment vehicles1

 

24

12

 

 

503

471

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