Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 163

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 6
Chunk 163
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, the SB annually determines the actual remuneration for members of the EB, based on advice from the Remuneration Committee of the SB. 
The Remuneration Committee’s responsibilities include preparing and advising the SB for decisions regarding the individual remuneration of members of the EB. In performing its tasks, the Remuneration Committee takes note of the views of individual EB members with regard to the amount and structure of their own remuneration. Fixed remuneration proposals for individual EB members are drawn up in accordance with the Executive Board remuneration policy and cover the following aspects: remuneration structure, external benchmark results based on an annual review, and validation of the EB peer group, the performance criteria used and, if and when considered appropriate, stakeholder engagement and the pay ratios within the company and its affiliated enterprises. In the performance of its tasks, the Remuneration Committee works with the Risk Committee. 
The EB variable remuneration proposals were determined based on scenario analysis performed against different performance standards and payout levels including threshold, target and maximum, and presented to the SB for consideration. In conclusion, the proposed variable remuneration awards for the EB members were considered fair and appropriate and in line with legislative requirements of maximum of 20 percent of base salary. The scenario analysis provided no issues or new insights that warranted further adjustments to the proposed variable remuneration awards by the SB.
2024 Executive Board performance management and reward process
The EB performance management and reward process includes a number of key steps. This process serves as the foundation to determine the variable remuneration for EB members.
ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    
Performance measures and targets
At the start of the performance year, the SB annually approves the performance measures and targets to align with our strategic priorities, ensuring the measures support delivery of ING’s strategy. The target areas cover:
•Financial performance target areas, including profit-based and return-based targets; and
•Non-financial and risk performance target areas include customer-related factors (except the CRO), risk & regulatory matters, strategy, and environment and social (sustainability) targets.
Each performance target area is weighted and when combined, all weightings total 100 percent. The CEO is aligned fully to Group performance, while for the CFO, it is a mix of both Group and functional performance targets. The non-financial targets for the CRO are predominantly based on performance targets that are linked