Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 161

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 6
Chunk 161
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 the full policy, including arrangements for recruitment and leaver provisions, on ING.com/remuneration.

Executive Board remuneration policy summary

Remuneration component        Operation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
Base salary                   ▪Base salary is set to reflect the individual's role, responsibilities, and experience, and to reward ongoing contribution to the role. ▪Base salary is fully paid out in cash.▪Base salary is reviewed annually by the SB with potential increases normally applying from January.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
Pension                       ▪Participation in ING's general collective defined contribution (CDC) pension plan in the same way as all employees working in the Netherlands.▪Same approach to all participants in the Dutch CDC pension plan who earn a salary above the maximum allowed pensionable salary, the EB members are compensated for the lack of pension accrual by means of a monthly individual savings allowance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
Benefits                      ▪Benefits are offered if considered appropriate by the SB in the context of the executive’s role, specific individual circumstances and benefits offered to the wider workforce, and for comparable roles in ING’s peer group. ▪Benefits may include reimbursement of costs related to travel and accident insurance, expatriate allowances, banking and insurance benefits from ING, tax and financial planning services, and the use of a company car or driver service.                                                                                                                                                                                                                                                                                                                                                                                                                                              
Variable remuneration         ▪The maximum annual variable remuneration opportunity is 20 percent of annual base salary. In case of achievement of target performance, variable remuneration of 16 percent of annual base salary will be awarded.▪Variable remuneration is delivered fully in ING Group shares. ▪The amount of variable remuneration is based on performance as measured against agreed financial, non-financial and risk objectives. At least 50 percent of variable remuneration metrics must be based on non-financial targets. At the beginning of each performance year, the Supervisory Board determines the performance measures and targets applicable for determining variable remuneration that year.▪Variable remuneration awards are paid 40 percent upfront and 60 percent is deferred. The deferred portion vests in equal annual tranches over five years plus an additional retention year as of the vesting date.    
ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    
Delivery of Executive Board variable remuneration
Illustrated below