Employee benefits (LA3)
Employee benefits differ between the countries where Vattenfall operates.
Germany
Most employees are paid according to the Group Collective Bargaining Agreement that took effect on 1 January 2007. However, this agreement does not apply for exempt and executive employees. The Collective Bargaining Agreement stipulates that employees shall receive, in addition to their collectively bargained monthly salary, a special annual payment (equivalent to one month’s pay). In addition, employees are entitled to a performance bonus based on their individual performance (0%–120% of their monthly pay) and a pay element that is based on the company’s performance (65% of monthly pay at 100% EBIT). In addition, employees are entitled to long service awards after serving 25, 40 or 50 years for the company, and to a EUR 500 childbirth grant.
Poland
A range of benefits are offered, including private health care, electricity allowance, pension plan, reimbursement for prescription glasses, additional paid days off and jubilee rewards. Various social funds have also been set up to support sports activities, and loans for employees with favourable terms are offered.
Sweden
Examples of employee benefits include company-paid prescription medicines, 90% of salary during the first 90 days of illness and after that 80% of salary, parental leave (270 work days at 80% of salary), free occupational health service for all employees, company-paid sport activities and company-paid pension amounting to 65% of salary after the age of 65.
Finland
Employee benefits include restructuring support, health care services, working lunches, support for sports and cultural activities, use of holiday cottages, and anniversaries. Pensions and insurance are provided in accordance with Finnish legislation.
Denmark
Employee benefits include group life insurance, group accident insurance, critical illness insurance and health care insurance. Employees covered by the Industrial Agreement are entitled to extra days off, while Vattenfall offers other employees five extra days off.
Differences in benefits between full-time and temporary or part-time employees:
- In Germany, employer contributions to the company pension scheme are not paid until an employee has served two years for the company. Most temporary employees are therefore not eligible for such payments. A group accident insurance plan is in place for exempt and executive staff, a service that is not provided to other employees.
- In Finland there are differences in support in cases of redundancy and parental leave (according to the collective agreement).
- In Sweden there are differences in company cars, which are regarded as a flexible benefit.
- In Denmark all employees with more than one month of employment are offered the above-mentioned forms of insurance, which are regulated by law (Ligebehandlingsloven – the Equal Opportunities in the Labour Market Act). Extra days off are offered after 9 months of employment.
- In Poland there is no difference between part-time and full-time employees regarding benefits.
