DHL 2011 Annual Report Download - page 151

increases gradually based on either the period of service or the periods of appointment
on the Board of Management. Subsequent pension bene ts increase or decrease to re-
 ect changes in the consumer price index in Germany.
. Pension commitments under the previous system in fi nancial year : individual breakdown
Pension commitments
Pension
level on
31 Dec. 2011
%
Maximum
pension level
%
Service cost for pension
obligation, fi nancial year 2011
€
Present value
 as at
31 Dec. 2011
€
Dr Frank Appel, Chairman 25 50 552,899 7,180,293
Jürgen Gerdes 1 0 50 166,362 3,804,581
Walter Scheurle 60 60 651,031 8,324,557
Total 1,370,292 19,309,431
1 Minimum period not yet complete. In the event of benefi ts being paid, the provisions of the previous system will apply.
. Pension commitments under the previous system in the previous year : individual breakdown
Pension commitments
Pension
level on
31 Dec. 2010
%
Maximum
pension level
%
Service cost for pension
obligation, fi nancial year 2010
€
Present value
 as at
31 Dec. 2010
€
Dr Frank Appel, Chairman 25 50 495,558 5,898,215
Jürgen Gerdes 1 0 50 139,017 2,798,820
Walter Scheurle 60 60 615,154 7,212,421
Total 1,249,729 15,909,456
1 Minimum period not yet complete. In the event of benefi ts being paid, the provisions of the previous system will apply.
Pension commitments under the new system
Since  March , newly appointed Board of Management members have received
pension commitments based on a de ned contribution plan rather than the previous
commitments, which were based on  nal salary. Under the de ned contribution pension
plan, the company credits an annual amount of   of the annual base salary to a vir-
tual pension account for the Board of Management member concerned.  e maximum
contribution period is  years. Since  nancial year , pension capital has accrued
interest at an annual rate equal to the “iBoxx Corporates   + Annual Yield” rate,
or at an annual rate of .  at minimum, and will continue to do so until the pension
bene ts fall due. Previously, the pension capital accrued interest at the discount rate
applicable to pension provisions recognised for tax purposes.  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. In the event of bene ts falling
due, the pension bene ciary may opt to receive an annuity payment in lieu of a lump
sum payment. If this option is exercised, the capital is converted to an annuity payment,
taking into account the average “iBoxx Corporates  + Annual Yield” for the past
ten full calendar years as well as the individual data of the surviving dependants and a
future pension increase of  .
Deutsche Post DHL Annual Report 
Corporate Governance
Corporate Governance Report
Remuneration report
145