33 Employee information.

(XLS:) Employee information

 

 

2012

2011

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 ABI (UK) Group Limited in November 2011. The £37m (2011: £24m) costs of employment for private equity investment subsidiaries primarily comprise salaries and £1m of defined contribution pension costs (2011: £nil).

Average number of staff employed during the year:

 

 

 

UK

 

7,396

7,231

Europe

 

442

405

USA

 

491

422

Total excluding consolidated private equity investment vehicles

 

8,329

8,058

Consolidated private equity investment vehicles1

 

1,535

1,080

Worldwide employees

 

9,864

9,138

 

 

 

 

 

Notes

2012
£m

2011
£m

Salaries

 

346

332

Social security costs

 

44

41

Share-based incentive awards

37

22

22

Defined benefit pension costs

23

38

47

Defined contribution pension costs

23

39

37

Total excluding consolidated private equity investment vehicles

 

489

479

Consolidated private equity investment vehicles1

 

37

24

 

 

526

503