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Group insurance
The group insurance subscribed by Cofinimmo for its employees and
the members of its Executive Committee has the following objectives:
•
payment of a “Life” benefit to the affiliate at retirement;
•
payment of a “Death” benefit to the beneficiaries of the affiliate in
case of death before retirement;
•
payment of a disability pension in case of accident or long-term
illness other than professional;
•
waiver of premiums in the same cases.
In order to protect workers, the Law of 18.12.2015 to ensure the
sustainability and the social nature of supplementary pensions and
to strengthen the supplementary nature in relation to retirement
pensions provides that Cofinimmo’s employees must be guaranteed a
minimum return on the “Life” portion of the premiums.
This minimum return amounts to 3.75% of the gross premiums for
the personal contributions and to 3.25% of the premiums for the
employer’s contributions until 31.12.2015. For future contributions, the
minimum return is 1.75%.
The rate guaranteed by the insurer is 1% in 2015 (2013 and 2014:
2.25%).
Cofinimmo must therefore cover part of the rates guaranteed by the
Law. If necessary, additional amounts must be brought under the
reserves to reach the guaranteed returns for the services given. A
provision of 27,406 EUR was funded at 31.12.2015.
Emoluments of the Auditor
The fixed emoluments of Deloitte, Company Auditors for reviewing
and certifying Cofinimmo’s company and consolidated accounts
amounted to 121,700 EUR (excluding VAT). Its emoluments for certifying
the company accounts of Cofinimmo’s subsidiaries amounted to
111,770 EUR (excluding VAT) and are calculated per company based on
their effective performances.
The fees of the Degroof Petercam Bank as financial service provider
for the payment of the dividend are to be found under the item “Other”
of “Fees paid to third parties”. It is a fixed amount for their annual
services.
(x 1,000 EUR)
2015
2014
Emoluments of the Auditor
366
318
Emoluments for the execution of a mandate of company Auditor
233
248
Emoluments for exceptional services or special assignments within the Group
133
70
Other certification assignments
19
55
Other assignments external to the auditing duties
114
15
Emoluments of people with whom the Auditor is connected
46
124
Emoluments for exceptional services or special assignments within the Group
46
124
Other certification assignments
15
Tax advisory duties
18
106
Other assignments external to the auditing duties
28
3
TOTAL
412
442
The emoluments of the company Auditors, other than Deloitte, appointed for the Group’s French companies amounted to 18 K EUR (excluding VAT)
in 2015.
(x 1,000 EUR)
2015
2014
Office charges
392
405
IT
156
160
Other
236
245
Fees paid to third parties
1,025
889
Recurrent
741
574
Lawyers
129
-9
Auditors
309
382
Other
303
201
Non-recurrent
284
315
Public relations, communication and advertising
637
702
Personnel expenses
4,180
3,524
Salaries
3,418
2,801
Social security
406
356
Pensions and other benefits
356
367
Taxes and regulatory fees
1,572
1,656
TOTAL
7,806
7,176
171