DHL 2009 Annual Report Download - page 137

Pension commitments under the new system
 e pension commitment system was restructured in  nancial year . Star-
ting on  March , newly appointed Board of Management members will receive
pension commitments based on a de ned contribution plan rather than the previous
commitments, which were based on  nal salary.
Under the new de ned contribution pension plan, the company has credited an
annual amount of   of the  xed annual remuneration to a virtual pension account
for the Board of Management members concerned.  e maximum contribution period
is  years. Interest is paid on the pension capital at the rate applicable to pension pro-
visions recognised for tax purposes until the pension is drawn or the Board of Manage-
ment member leaves the company.  e pension bene ts are paid out in a lump sum in
the amount of the value accumulated in the pension account.  e bene ts fall due when
the Board of Management member reaches the age of  or in the case of invalidity or
death whilst being employed.  e pension bene ciary may opt to receive a pension
in lieu of a lump-sum payment. If this option is exercised, the capital is converted to
a pension on the basis of the relevant tax base, taking into account the individual data of
the surviving dependents and a future pension increase of  . If the Board of Manage-
ment member leaves the company before the bene ts fall due, the pension account will
be maintained at the balance existing at the time the member le the company.  e
account will no longer accrue interest and no further contributions will be paid.
 e new pension system is applicable to Board of Management members Ken
Allen, Bruce Edwards, Lawrence Rosen and Hermann Ude.  e pension commitment
made to Hermann Ude contains an arrangement guaranteeing him a minimum bene t
in the amount of the bene ts payable to him had his former pension commitment been
continued using the assessment basis applicable at the time of his appointment to the
Board of Management.
. Individual pension commitments under the new system in fi nancial year 

Total contribution
for 2009
Pension account
balance as
at 31 Dec. 2009
Service cost for pension obligation
Financial year 2009
Ken Allen1) 148,9583) 156,370 150,5976)
Bruce Edwards 215,000 406,460 221,591
Lawrence Rosen2) 871,6674) 888,763 70,2346)
Hermann Ude 178,750 704,7935) 177,182
Total 619,604
 Member of the Board of Management since  February .  Member of the Board of Management since  September .  Pro-rata amount
for  months.  Pro-rata amount for four months plus start-up capital of  ,.  Minimum payment in the event of death:  ,; minimum
payment in the event of invalidity:  ,, (as at  December ).  Notional amount as at  January , calculated at an interest rate of . .
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