Lenovo 2016 Annual Report Download - page 201
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199
2015/16 Annual Report Lenovo Group Limited
10 EMPLOYEE BENEFIT COSTS
2016
US$’000
2015
US$’000
Wages and salaries, including severance and related costs of
US$212,475,000 (2015: nil) 2,849,129 2,627,764
Social security costs 271,921 206,436
Long-term incentive awards granted (Note 29(a)) 161,097 99,062
Pension costs
– Defined contribution plans 162,418 158,236
– Defined benefit plans (Note 35)19,081 22,630
Others 285,779 410,091
3,749,425 3,524,219
The Group contributes to respective local municipal government retirement schemes which are available to all
qualified employees in the Chinese Mainland. Contributions to these schemes are calculated with reference to the
monthly average salaries as set out by the local municipal government.
The Group participates in various defined contribution schemes, either voluntary or mandatory, for all qualified
employees. The assets of those defined contribution schemes are held separately from those of the Group in
independently administered funds.
The Group also contributes to certain defined benefit pension schemes, details of which are set out in Note 35.