Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 695

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 695
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 January 2018 for some members of senior management and since 1 April 2018 for executive directors. A fixed remuneration supplement reflected in other remuneration in the table above was implemented on the same date. • The amounts insured for life and accident insurance were increased. All of the above was done without an increase in total cost for the Bank. The balance as of 31 December 2024 in the pension system for those who were part of senior management at year end amounted to EUR 51million (EUR 57million at 31 December 2023). The net charge to income corresponding to pension amounted to EUR 4.5million in 2024 (EUR 4.7million in 31 December 2023). In 2024 and 2023 there have been nopayments in the form of a single payment of the annual voluntary pre-retirement allowance. Additionally, the capital insured by life and accident insurance at 31 December 2024 of this group amounts to EUR 83million (EUR 84.4million at 31 December 2023). h) Post-employment benefits to former directors and former senior executive vice presidents The post-employment benefits and settlements paid in 2024 to former directors of the Bank, other than those detailed in note 5.c amounted to EUR 5.6million and EUR 5.6million in 2023, respectively. Also, the post-employment benefits and settlements paid in 2024 to former executive vice presidents amounted to EUR 12.7million and EUR 15.0million in 2023, respectively. Contributions to insurance policies that hedge pensions to previous members of the Bank’s board of directors, amounted to EUR 0.17million in 2024 (EUR 0.17million in 2023). Likewise, contributions to insurance policies that hedge pensions for previous senior managers amounted to EUR 2.3million in 2024 (EUR 3.3million in 2023). No releases or charges were recorded in the consolidated income statement for pension commitments and similar obligations held by the Group with previous former members of the bank's board of directors or former members of senior management in 2024 and 2023. In addition, 'Provisions - Pension Fund and similar obligations' in the consolidated balance sheet as at 31 December 2024 included EUR 46million in respect of the post-employment benefit obligations to former Directors of the Bank (EUR 46million at 31 December 202