Stater has a remuneration policy that promotes responsible and effective risk management and supports Stater's business strategies, objectives, core values and long-term interests. Variable remuneration is not awarded or guaranteed to employees, with the exception of the members of the Executive Board (variable income is not higher than 20% of annual income). The remuneration of the members of the Executive Board is supervised by the Supervisory Board. None of the members of the Executive Board, nor any other staff member, has a remuneration of EUR 1 million or more.
Stater's terms of employment are laid down in the Collective Labour Agreement (CAO). This CLA applies to all employees in the Netherlands, with the exception of the members of the Executive Board, whose employment contracts contain various arrangements that take precedence over the CLA. As of 1 January, the CAO scales were increased by 6.75%. This includes an increase of 5.00% for the mutation of the variable remuneration to the standard CLA scales. In 2021, the total amount of variable remuneration paid to employees in the Netherlands will be € 2.6 million (787 employees).
Stater has always had a good relationship with the Works Council and the trade unions in recent years. In this way, we can strengthen each other and jointly achieve greater goals. Stater is currently in talks with the trade unions to extend the current CLA (valid until 1/1/2022). These talks are going well and in addition to salary-related topics, we are also discussing the opportunities and possibilities for employee development. We are confident of a good result in the short term.
In Belgium, salaries were increased by 1.35% in the past year and a 13th month's salary is paid out annually. In addition, it is possible to grant a bonus to several employees during the annual performance review. In 2021, the total bonus granted to employees in Belgium amounted to € 109,000 (55 employees). Stater's remuneration falls within the statutory frameworks of the Financial Institutions Remuneration Policy Act (Wft).