DHL 2012 Annual Report Download - page 134

Pensionable income consists of the xed annual remuneration (annual base salary)
computed on the basis of the average salary over the last twelve calendar months of
employ ment. Members of the Board of Management attain a pension level of   aer
ve years of service. e maximum pension level of   is attained aer ten years of
service. e pension level increases gradually based on the period of service 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 financial year : individual breakdown
Pension commitments
Pension
level on
31 Dec. 2012
%
Maximum
pension level
%
Service cost for pension
obligation, financial year 2012
€
Present value
 as at
31 Dec. 2012
€
Dr Frank Appel, Chairman 50 50 614,968 10,447,301
Jürgen Gerdes 1 25 50 213,097 4,598,461
Walter Scheurle (until  April ) 60 60 686,493 0
Total 1,514,558 15,045,762
1 Should benefits fall due whilst the Board member concerned is actively employed, their amount will be calculated in accordance
with the Pension Regulations of Deutsche Post  (VersOPost) at a minimum (based on a salary of ,).
. Pension commitments under the previous system in the previous year (): individual breakdown
Pension commitments
Pension
level on
31 Dec. 2011
%
Maximum
pension level
%
Service cost for pension
obligation, financial 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 benefits 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 the nal salary. Under the dened contribu tion
pension plan, the company credits an annual amount of   of the annual base salary
to a virtual pension account for the Board of Management member concerned. e
maximum contribution period is  years. e pension capital accrues 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.
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 pay-
ment 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   per year.
Deutsche Post DHL Annual Report 
130