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Annual Report 2015

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Non-Government Pension Plan

The Non-Government Pension Plan for PJSC IDGC of the North-West employees (hereinafter, the Plan) for 2015 was approved by the resolution of the Company’s Board of Directors on December 17, 2014. The main goal of the Plan is to ensure decent life for Company’s employees after their retirement and to provide conditions for efficient decision-making on different HR matters including optimization of administrative and management headcount, reduction of personnel turnover, and retention of employees in the energy sector. During 2015, the Company continued to cooperate with the Non-Government Electricity Pension Fund (hereinafter, the Electricity NGF) on the implementation of non-government pension plans for its employees in the following three areas:

  • Corporate Plan (financed by the Company), including the ’Maintenance’ Programme;
  • Parity Plan (financed by the Company and Employee);
  • Co-Financing Plan (financed by Company, Employee, and government).

The Company implemented its Co-Financing Programme under the 2015 Plan in accordance with Federal Law No. 56-FZ dated April 30, 2008 on Additional insurance contributions to the funded component of retirement pension and state support of pension accumulation covering 407 employees.

During 2015, a total of 3,582 retired employees received non-government pension. The amount payable primarily depends on the employee’s base salary, service record in the energy sector, and any national, industry-wide and corporate awards. Understanding the importance of financial support of its employees after retirement, Company management finds different opportunities to finance non-government support plans every year although these costs are not included in power network tariffs by regional tariff regulation authorities.