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  • Glossary

Personnel Fund

Neste Oil’s Personnel Fund was established in spring 2005 and covers the group’s personnel in Finland. Those participating in the Group’s share-based incentive program cannot be members of the Fund during the program’s earning periods. The Board of Directors determines the criteria used for the profit-sharing earnings paid into the Fund annually. The earnings paid in 2013 were tied to the Company’s comparable operating profit in 2012.

Personnel employed under both permanent and fixed-term employment contracts are members of the Personnel Fund. Membership begins after an uninterrupted period of six months of employment and ends once a member has received his or her share of the Fund in full.

The profit-sharing earnings paid into the Fund are distributed equally between members. Each employee’s share is divided into a tied amount and an amount available for withdrawal. The amount available for withdrawal will be determined annually and paid to members who wish to exercise their withdrawal rights. Members can choose whether they want to receive the amount available for withdrawal in cash or in Neste Oil shares acquired through the Personnel Fund.

 

2013
In 2013, the profit-sharing earnings paid into Neste Oil’s Personnel Fund for 2012 totaled EUR 2,86 million (EUR 2,864,256); EUR 845,303 was paid in 2012.