38 Employee information

 

2014

2013

1.

The private equity investment vehicles are controlled by virtue of majority holdings owned by the with-profits part of the LTF. The £56m (2013: £55m) costs of employment for private equity investment subsidiaries primarily comprise salaries and £0.4m of defined contribution pension costs (2013: £0.4m).

Monthly average number of staff employed during the year:

 

 

UK

8,014

8,268

Europe

431

424

USA

560

545

Total excluding consolidated private equity investment vehicles

9,005

9,237

Consolidated private equity investment vehicles1

2,033

1,926

Worldwide employees

11,038

11,163

 

Notes

2014
£m

2013
£m

1.

The private equity investment vehicles are controlled by virtue of majority holdings owned by the with-profits part of the LTF. The £56m (2013: £55m) costs of employment for private equity investment subsidiaries primarily comprise salaries and £0.4m of defined contribution pension costs (2013: £0.4m).

2.

The current year includes a full year’s charge for Cofunds (Holdings) Limited’s wages and salaries, whereas prior year only includes the charge since date of acquisition on 22 May 2013.

Wages and salaries2

 

438

410

Social security costs

 

59

54

Share-based incentive awards

39

28

23

Defined benefit pension costs

27

62

38

Defined contribution pension costs

27

52

50

Total excluding consolidated private equity investment vehicles

 

639

575

Consolidated private equity investment vehicles1

 

56

55

 

 

695

630