Pension provision
Transferred to MAN Pension Fund
The pension system consistently applied throughout the MAN Group is based on a contribution-related individual guarantee of benefits, which calculates individual employee contributions on the basis of their annual salaries and wages. Upon reaching retirement age, employees now receive the individual plan assets, either as a lump sum or in installments.
Capital payments under the capital account plan for senior executives, CEOs and managing directors are linked to the development of certain capital market indices.
At the end of 2007, the pension obligations of MAN SE (which changed from a public limited company to a European company in 2009) and other Group companies, which involve some 26,000 pensioners, were transferred to MAN Pensionsfonds AG and fully externally financed.
All important obligations of the MAN Group based on already existing pension provision agreements that are restricted to the life-long payment of pensions have thus been consolidated transparently in a single company.