Report from the Commission to the Council and the European Parliament - Evaluation of the implementation of the early retirement measure - Article 9 of Annex VIII to the Staff Regulations of Officials and Article 39 of the Conditions of Employment of Other Servants of the European Communities
Date: 2010-02-08
Institutions: European Commission
Subjects: European official, early retirement, pension scheme, personnel administration, regulations for civil servants, report, servant (EU), temporary employment, wage cost

EN 

EN 

   EN 

 
 
EUROPEAN COMMISSION 

Brussels, 8.2.2010 
COM(2010)28 final 

REPORT FROM THE COMMISSION TO THE COUNCIL AND THE EUROPEAN 
PARLIAMENT 

Evaluation of the implementation of the early retirement measure 
Article 9 of Annex VIII to the Staff Regulations of Officials and 
Article 39 of the Conditions of Employment of Other Servants 
of the European Communities 

EN 

   EN 

 
 
 
  
REPORT FROM THE COMMISSION TO THE COUNCIL AND THE EUROPEAN 
PARLIAMENT 

Evaluation of the implementation of the early retirement measure 
Article 9 of Annex VIII to the Staff Regulations of Officials and 
Article 39 of the Conditions of Employment of Other Servants 
of the European Communities 

Legal basis of the early retirement exercise: Article 9(2) of Annex VIII to the Staff Regulations 
and Article 39 of the Conditions of Employment of Other Servants.  

This evaluation report has been prepared in accordance with Article 9(2) of Annex VIII to the 
Staff  Regulations,  which  states  that  the  Commission  must  submit  an  evaluation  report  on  the 
implementation  of  the  early  retirement  measure  to  the  European  Parliament  and  the  Council 
within five years of its adoption. This article provides in particular that:  

the  Appointing  Authority  may  decide,  in  the  interests  of  the  service,  on  the  basis  of 
objective  criteria  and  transparent  procedures  introduced  by  means  of  general 
implementing  provisions,  not  to  apply  the  above  reduction  [i.e.  3.5%  for  every  year 
before the one in which officials would become entitled to a retirement pension] to the 
officials concerned1. The total number of officials and temporary servants who retire 
without any reduction of their pension each year shall not be higher than 10% of the 
officials in all institutions who retired the previous year. The annual percentage may 
vary  from  8%  to  12%,  subject  to  a  total  of  20%  over  two  years  and  the  principle  of 
budget neutrality. Moreover, after five years, apart from the evaluation report that it 
is required to submit, the Commission may also, where appropriate, submit a proposal 
to fix the maximum annual percentage rate at between 5% and 10% of all officials in 
all  institutions  who  retired  the  previous  year,  on  the  basis  of  Article  283  of  the  EC 
Treaty.  

In addition, Article 39 of the Conditions of Employment of Other Servants (CEOS) states that 
the above article shall apply under the following conditions: 

“The Appointing Authority may decide, in the interests of the service on the basis of 
objective  criteria  and  transparent  procedures  introduced  by  means  of  general 
implementing  provisions,  not  to  apply  any  reduction  to  the  pension  of  a  temporary 
servant, up to a maximum of eight temporary servants in all institutions in any one 
year. The annual number may vary, subject to an average of ten every two years and 
the  principle  of  budget  neutrality.  Before  five  years  have  elapsed,  the  Commission 
shall submit to the European Parliament  and the Council an evaluation report on the 
implementation  of  this  measure.  Where  appropriate,  the  Commission  shall  submit  a 
proposal  to  change  after  five  years  the  maximum  annual  number  on  the  basis  of 
Article 283 of the EC Treaty.”  

•  COMPLIANCE  WITH  ARTICLE  9(2)  OF  ANNEX  VIII  TO  THE  STAFF  REGULATIONS  AND 

ARTICLE 39 OF THE CEOS  

1 

Within the meaning of Article 77 of the Staff Regulations. 

EN 

2 

   EN 

 
                                                 
•  This  report  examines  whether  the  maximum  number  of  officials  and  members  of  the 
temporary  staff  who  may  retire  without  any  reduction  of  their  pension  each  year  has  been 
complied  with  and  budget  neutrality  has  been  respected  following  introduction  of  the 
measure. 

A) NUMBER OF RETIREMENTS AND COMPLIANCE WITH THE PERCENTAGE 

•  A.1)  COMPLIANCE  WITH  THE  10%  LIMIT  (ARTICLE  9(2),  ANNEX  VIII  TO  THE  STAFF 

REGULATIONS) 

Since the measure entered into force in 2004, six exercises involving early retirement without 
reduction  of  pension  rights  have  been  organised.  The  number  of  retirements  for  all  the 
institutions combined for all these early retirement exercises totalled 387 officials and members 
of the temporary staff. This corresponds to 10.06% of the total number of 3 846 officials and 
temporary staff who have retired or will retire between 2004 and 31 December 2009 in all the 
institutions. It is clear from this figure that the provisions of the Staff Regulations  have been 
complied with over time for the entire reference period.  

EARLY RETIREMENT WITHOUT REDUCTION OF PENSION RIGHTS  

(ARTICLE 9(2) OF ANNEX VIII TO THE STAFF REGULATIONS)  

ALL INSTITUTIONS 

Year of the 
exercise 

Number of 
early 
retirements 
(Art.9(2) Annex 
VIII) 

Number of 
retirements 
(Art. 52) in 
previous 
year 

% early 
retirements 
without loss of 
rights 
Compliance 
with Art.9(2) 
Ann. VIII  

x≤10% 

% early retirements 
without loss of rights
Compliance with 
Art.9(2) Ann. VIII  
per 2-year period 
≤20%  

2004

2005

484 

559 

2004-2005

1043 

2006

2007

558 

689 

2006-2007

1247 

2008

2009

769 

787 

2008-2009

1556 

TOTAL 
(2004-2009)

3846 

9.71%

11.27%

10.55%

10.04%

9.87%

9.94%

9.23%

10.41%

9.83%

10.06%

47

63

110

56

68

124

71

82

153

387

3 

20.98%

19.91%

19.64%

   EN 

EN 

 
 
 
 
  
  
  
 
First two-year period: 2004 and 2005 exercises  

During this period, the number of officials and temporary staff who took early retirement with 
no reduction in pension rights for all institutions combined was 47 for 2004 and 63 for 2005. 
This  corresponds  to  9.71%  of  the  484  officials  and  temporary  staff  in  all  institutions  who 
retired  in  20032  and  11.27%  of  the  559  officials  and  temporary  staff  in  all  institutions  who 
retired in 2004; this figure is therefore close to 10% (10.5%) for the first two-year period (20.98 
altogether  for  2004  and  2005).  The  figures  comply  with  the  figure  of  10%  laid  down  in  the 
Staff Regulations. 

Second two-year period: 2006 and 2007 exercises  

During this period, the number of officials and temporary staff who took early retirement with 
no reduction in pension rights for all institutions combined was 56 for 2006 and 68 for 2007. 
This  corresponds  to  10.04  %  of  the  558  officials  and  temporary  staff  in  all  institutions  who 
retired within the meaning of Article 52 in 2005 and 9.87% of the 689 officials and temporary 
staff  in  all  institutions  who  retired  within  the  meaning  of  Article 52  in  2006;  this  figure  is 
therefore below  10%  (9.94%)  for  this second two-year period (19.91 altogether for 2006 and 
2007). The figures comply with the figure of 10% laid down in the Staff Regulations. 

Third two-year period: 2008 and 2009 exercises  

Although  the  Staff  Regulations  did  not  provide  that  2009  should  be  covered  by  the  five-year 
evaluation  report,  it  was  nevertheless  necessary  to  include  it  in  view  of  the  reference  in  the 
Staff  Regulations  to  the  need  to  observe  a  total  of  20%  of  retirements  over  two  years.  The 
number of retirements  has therefore been analysed over  the three two-year  periods for which 
figures are available: 2004-2005; 2006-2007 and 2008-2009. 

During 2008-2009, the number of officials and temporary staff who took early retirement with 
no reduction in pension rights for all institutions combined was 71 for 2008 and 82 for 2009. 
This  corresponds  to  9.23%  of  the  769  officials  and  temporary  staff  in  all  institutions  who 
retired within the meaning of Article 52 in 2007 and 10.41% of the 787 officials and temporary 
staff in all institutions who retired within the meaning of Article 52 in 2008. The total for the 
two  exercises,  2008  and  2009,  therefore  represents  a  figure  below  10%  (9.83%)  for  the  third 
two-year  period  (19.64  altogether  for  2008  and  2009).  The  figures  comply  with  the  figure  of 
10% laid down in the Staff Regulations. 

•  A.2) COMPLIANCE WITH ARTICLE 39 OF THE CEOS  

•  Between 2004 and 31 December 2009, a total of 10 temporary staff have taken or will take 

early retirement. The numbers break down as follows:  

–  2 in 2005 (EP) 

–  2 in 2006 (EP) 

–  3 in 2007 (2 EP and 1 COM) 

–  3 in 2008 (EP) and 

–  3 in 2009 (EP)  

2 

Within the meaning of Article 52. 

EN 

4 

   EN 

 
 
                                                 
•  This number is well below the figures provided for by the Staff Regulations, which permit 
up to eight retirements of temporary staff per year over all the institutions and an average of 
ten retirements over a period of two years. 

EN 

5 

   EN 

 
•   

B) COMPLIANCE WITH BUDGET NEUTRALITY 

The total cost of the measure since its entry into force in 2004 has been calculated on the basis 
of  the  same  method  as  is  used  for  establishing  the  corresponding  financial  statement  (“the 
Court of Auditors method”) when the new Staff Regulations were adopted. 

Moreover, taking into account the reference in the Staff Regulations to the period of five years 
following  the  adoption  of  the  measure  to  which  the  evaluation  report  should  refer,  the  2009 
exercise  was  not  taken  into  consideration  in  the  budget  neutrality  calculations,  unlike  the 
calculations  to  check  that  the  percentage  of  the  number  of  retirements  had  been  respected, 
where it was essential. Thus the retirements taken into account for the calculations relating to 
budget neutrality are those for the five exercises held between 2004 and 2008. 

In particular, in order to demonstrate budget neutrality, the total cost of the early retirement of 
the 3043 beneficiaries from all institutions who left between 2004 and 31 December 2008 was 
compared  with  the  cost  to  the  budget  had  those  same  people  retired  at  the  age  of  604. 
Furthermore,  as  it  was  found  that  71%  of  those  opting  for  early  retirement5  would  have 
qualified  for  the  maximum  retirement  pension  within  the  meaning  of  Article  77  of  the  Staff 
Regulations6 within a maximum of eight months after they reached the age of 60, a comparison 
was also carried out for this hypothesis7. No comparison was made with retirement at 65, since 
staff who remain in service up to that age self-evidently have no interest in early retirement. 

The total cost of early retirement is arrived at by adding two components: the cost of the actual 
pension that has to be paid to the 304 early retirees, from the date of their retirement until the 
age  at  which  they  are  statistically  likely  to  die8,  and  the  cost  of  their  replacements  over  the 
same period. 

To  calculate  the  cost  of  the  replacements,  ADs  retiring  early  are  assumed  to  be  replaced  by 
AD5s,  ASTs/ex-B  grades  by  AST3s,  and  ASTs/ex-C  grades  by  AST1s.  To  calculate  the 
progression of the replacements’ salaries, a rate of 3.4% has been used. This rate corresponds 
to  the  annual  salary  increase  to  be  expected  in  the  coming  years  according  to  the  career 
development  set  out  in  Annex  IB  to  the  Staff  Regulations.  For  the  calculation  of  the 
replacements’ expatriation allowance the rate of 13.3%9 was used. In calculating the total cost 
of the replacements, all contributions to the pension scheme were also taken into account. The 
total  cost  of  early  retirement  calculated  in  this  way  was  then  compared  with  the  total  cost  of 
these same people's pensions, and those of their replacements, in the event of retirement at 6010 
or at the age at which they would have qualified for their maximum retirement pension. 

On the basis of these calculations it was found, when comparing the costs of the pensions of 
people who retired early with the cost of their pension if they had retired at the age of 60, that 
the gain for the institutions amounts to an average of €56 507 per person  over the entire period 

3 

4 
5 
6 
7 
8 
9 
10 

One  person  who  qualified  for  this  measure  withdrew,  reducing  the  total  number  of  retirements  for  the 
2004-2008 period from 305 to 304.  
Retirement within the meaning of Article 22 of Annex XIII to the Staff Regulations. 
216 persons. 
70 % of the last basic salary. 
For the purposes of calculating this hypothesis, the remaining 29% were assumed to have retired at 60. 
75 for men and 81 for women (source: Eurostat). 
Based on the average rate of the allowances taken into account in the Commission budget. 
Retirement within the meaning of Article 22 of Annex XIII to the Staff Regulations. 

EN 

6 

   EN 

 
                                                 
for which they receive a pension. What is more, if these same costs are compared with the costs 
that  would  have  been  incurred  if  they  had  retired  at  the  age  at  which  they  qualified  for  the 
maximum retirement pension the saving is €139 262. 

It  should  be  noted  that  the  use  in  the  calculations  of  a  rate  of  salary  increase  of  3.4%  in 
accordance with Annex IB to the Staff Regulations (instead of 2.3%), and the use of a statistical 
average age at death based on life expectancy at birth (75 for men and 81 for women, and not 
80 for men and 84 for women as estimated at the age of 60), corresponds to the least favourable 
situations for calculating the costs of the measure. If a rate of salary increase of 2.3% for the 
salaries  of  replacements  and  a  longer  life  expectancy  had  been  used  in  the  calculations,  the 
savings for the institutions would have been even greater. However, the “worst case scenario” 
approach was chosen in order to be sure of the budget neutrality of the implementation of the 
measure.  

In  the  light  of  this  analysis  and  the  calculations  based  on  the  actual  data  for  the  304 

persons who opted for early retirement between 2004 and the end of December 2008, it is 

clear that, in all cases, the exercise is budget neutral. 

Considering,  moreover,  the  age  pyramid  of  officials,  this  measure  is  an  effective  HR 

management  tool  and  contributes  to  the  renewal  of  the  population,  particularly  in  the 

institutions required to operate with no increase in staffing levels, such as the Commission for 

example.  The  growing  interest  of  officials  in  this  measure,  as  reflected  in  the  increasing 

number  of  applications,  provides  ample  justification  for  its  continuation.  Consequently,  the 

Commission does not consider it necessary to make use of the possibility provided for at the 

end of Article 9(2) of Annex VIII.  

EN 

7 

   EN 

 
 
COST OF EARLY RETIREMENT* 
RATE OF ANNUAL SALARY INCREASE (ANNEX IB TO THE STAFF REGULATIONS*)  

TOTAL COST 

AVERAGE COST/PERSON 

of the 304 early retirees & 
replacements up to statistically 
expected age at death: ♂:75 / 
♀:81  

for full period of receipt of 
pension 
(~22 years on average) 

AVERAGE 
COST/PERSON/YEAR 

COST OF 
EARLY 
RETIREMEN
T* 

TOTAL 

COST OF 
RETIREMEN
T AT 60 

Cost of 
pensioner 

Cost of 
replacements: 
(salaries - 
contributions) 

Cost of 
pensioner 

Cost of 
replacement: 
(salaries - 
contributions) 

Cost of 
pensioner 

Cost of 
replacement: 
(salaries - 
contributions) 

€ 404 150 049  € 417 661 591
€821 811 639 

€1329 441

€1 373 887

€60 429 

€62 449

€2 703 328 

€122 879 

Cost of 
pensioner 
(salaries up to 
60 + pensions 
received – 
contributions up 
to 60) 

Cost of 
replacements 
(salaries - 
contributions) 

Cost of 
pensioner 
(salaries up to 
60 + pensions 
received – 
contributions 
up to 60) 

Cost of 
replacements 
(salaries - 
contributions) 

Cost of 
pensioner 
(salaries up to 
60 + pensions 
received – 
contributions 
up to 60) 

Cost of 
replacements 
(salaries - 
contributions) 

€532 189 015 

€306 800 666

€1 750 622

€1 009 213

€79 574 

€45 873

TOTAL 

€838 989 682 

€2 759 834 

€125 447 

COST OF 
RETIREMEN
T WITH 70% 

Cost of 
pensioner 
(salaries up to 
70% + pensions 
received – 
contributions up 
to 70%) 

Cost of 
replacements 
(salaries - 
contributions) 

Cost of 
pensioner 
(salaries up to 
70% + 
pensions 
received – 
contributions 
up to 70%) 

Cost of 
replacements 
(salaries - 
contributions) 

Cost of 
pensioner 
(salaries up to 
70% + 
pensions 
received – 
contributions 
up to 70%) 

Cost of 
replacements 
(salaries - 
contributions) 

€573 592 740 

€290 554 626

€1 886 818

€955 772

€85 764 

€43 444

TOTAL 

€864 147 367 

€2 842 590 

€129 209 

SAVING TO THE INSTITUTION 
in the case of early retirement at 60 or with 70% 

For all the 304 pensioners for the entire period for which they are statistically likely 
to receive their pension  

Per person for the entire period for which they are statistically likely to receive 
their pension  

60 years 

€17 178 042

70% 

€42 335 727

60 years 

€56 507

70% 

€139 262

EN 

8 

   EN 

 
 
 
 
 
 
  
  
  
  
  
  
 
 
 
 
 
 
 
Per person and per year for the entire period for which they are statistically likely 
to receive their pension**  

60 years 

€2 568

70% 

€6 330

*Rate of salary increase: 3.4%; weighting: 3.48% (average estimated for the full pension period).  

**The calculations per person per year are given only as a guide in view of the use of approximate averages for 
calculating the annual costs.  

EN 

9 

   EN 

 
 
 
 
 
 
 
ANNEXES  

(1) 

(2) 

(3) 

Annex 1: General comments on the main components taken into account  

Annex 2: Components used to calculate the cost 

Annex 3: Graphs 
–  Breakdown of early retirements by institution (2004-2008) 
–  Number of Article 52 retirements (year n-1) and number of persons selected for 

– 

– 

early retirement for all institutions combined (2004-2008) 

Breakdown  of  early  retirements  by  gender  for  all  institutions  combined  (2004-

2008) 

Breakdown of early retirements by function group for all institutions combined 

(2004-2008) 

(4) 

Annex 4: Four examples of calculations of costs of early retirement and retirement at 60 
or/and with 70%.  

EN 

10 

   EN 

 
ANNEX 1 

GENERAL COMMENTS 

ON THE MAIN COMPONENTS TAKEN INTO ACCOUNT IN CALCULATING THE 
COST OF THE EARLY RETIREMENT MEASURE 

The calculations were based on three components: the cost of the pensions; the cost of pension 
contributions and the cost of the replacements. The cost of the pensions and the cost of pension 
contributions have a negative impact on the Community budget. However, since this negative 
impact is largely offset by the third component, the cost of replacements, the early retirement 
measure is beneficial overall for the Community budget. 

(1) 

The cost of the pension was calculated for the following cases: 

early retirement 

retirement at 60 

retirement with 70% 

Impact: budgetary cost 

Reasoning:  people  taking  early  retirement  will  receive  a  pension  for  more  years  than  if  they 
had retired at 60 (or with 70%), and the amount of the pension cannot offset the extra cost. 

(2) 

The  cost  of  pension  contributions  –  the  difference  between  the  contribution  of 
pensioners and replacements up to 60 (or 70%), offset by the difference in respect of the 
(lower)  contribution  of  the  replacement  in  the  event  of  retirement  only  at  60  (or  with 
70%). 

Impact: budgetary cost 

Reasoning: There is a loss of pension contribution between that paid by a better paid 
staff  member  who  is  retired  and  that  paid  by  a  young  person  starting  his/her  career. 
The  loss  is  offset  by  the  higher  salary  cost  of  the  replacement  and  therefore  of  the 
contribution, at the age of 60 (or with 70%) owing to the steps and promotion which 
the replacement will have acquired by that time, in comparison with the contribution 
paid by the replacement of this retired person if he or she had not retired until 60. 

(3) 

The  cost  of  the  replacement  –  difference  between  salaries  of  pensioners  and 
replacements up to 60 (or the age at which the official can receive a pension of 70%), 
offset by the difference in respect of the (lower) salary of the replacement in the event 
of retirement only at 60 (or with 70%). 

Impact: savings  

Reasoning:  early  retirement  allows  the  pensioner  to  be  replaced  by  a  young  person 
recruited at the starting grade. However, the benefit is offset by the higher salary cost 
of the replacement at the age of 60 (or with 70%) owing to the steps and promotion 
which  the  replacement  will  have  acquired  by  that  time.  The  higher  grade  made 
available  has  no  impact,  since  the  provisions  of  the  new  Staff  Regulations  require  a 
minimum number of promotions to be available at each grade, which means that the 
budgetary authority has to award the missing promotions and the institutions have to 

EN 

11 

   EN 

 
 
maintain an average programmed management of the rate of promotion, as laid down 
in the Staff Regulations. 

EN 

12 

   EN 

 
 
ANNEX 2 

COMPONENTS USED TO CALCULATE THE COST 

All the components taken into account in the calculations are those used by PMO to calculate 
the retirement pension of the persons concerned. 
Age at death: The calculations were based on statistical average life expectancy at birth: 75 for 
men and 81 for women (source: Eurostat).  
Basic salary of replacement: differentiated according to year of retirement:  

Retirement between: 

01.07.2004 – 30.06.2005 

01.07.2005 – 30.06.2006 

01.07.2006 – 30.06.2007 

01.07.2007 – 30.06.2008 

01.07.2008 – 30.06.2009 

AD 

3998 

4086 

4180 

4239 

4366 

AST1 

AST3 

2440 

2493 

2551 

2586 

2664 

3123 

3192 

3265 

3311 

3410 

Early retirement 

Annual cost of 
pension 

Basic salary x pension percentage x 12 

  For  those  whose  pension  would  not  attain  the  minimum 
subsistence  figure  based  on  the  pension  rate  acquired,  the  pension 
actually  paid  by  PMO  is  taken  into  account  (application  of  a 
percentage to the basic salary of an AST0101): 

from 01.07.2004 to 30.06.2005: 2341.61 
from 01.07.2005 to 30.06.2006: 2393.13 
from 01.07.2006 to 30.06.2007: 2448.17 
from 01.07.2007 to 30.06.2008: 2482.44 
from 01.07.2008 to 30.06.2009: 2556.91 

Cost annual pension x (Average age at death – Retirement age + 1) 

  The  annual  salary  increase  was  calculated  on  the  basis  of  the 
career  development  set  out  in  Annex  1B  to  the  Staff  Regulations 
(3.4%). 

Payment  of  contribution  (10.9%)  of  replacement  for  the  period 
between the age of early retirement of the pensioner and death of the 
pensioner. 

Total cost of pensioner up to death 

+ Total cost of replacement up to death of pensioner  

Total cost of 
pensioner up to 
death 

Total cost of 
replacement up to 
death of pensioner 

Contribution of 
replacement 

Cost of early 
retirement 

EN 

13 

   EN 

 
 
 
 
 
- Contribution of replacement 

Normal retirement 

Pension percentage 

Pension percentage if the pensioner had worked up to 60, i.e.  

(60  years  –  Age  at  retirement)  x  2%  +  Pension  percentage  at  the 
time of early retirement 

 The maximum percentage is 70%.  

All  percentages  exceeding  70%  apply  to  retirees  receiving  the 
minimum  subsistence  figure  (%  x  AST0101)  –  see  explanations 
Annual cost of early retirement pension 

The  basic  salary  of  a  pensioner  at  60,  taking  into  account  the 
average annual increase (step and promotion). Thus: 
Last monthly basic salary x 12 x Annual increase  (60  years  –  Age  at  early 
retirement) 

Cumulated basic salaries of the future pensioner up to the age of 60, 
taking 
increase  (step  and 
the  average  annual 
promotion) 

into  account 

Pension percentage at 60 x annual cost of future pensioner at 60 

Annual cost of pensioner from 60 up to death x (Age at death – 60 
years) 

The annual salary increase was calculated on the basis of the career 
development set out in Annex 1B to the Staff Regulations (3.4%). 

Annual cost of future pensioner up to 60 x 10.9% 

Total cost of replacement up to death of pensioner x 10.9% 

Total cost of future pensioner up to 60  

+ Total cost of pensioner up to death  

+ Total cost of replacement up to death of pensioner  

- Contribution of future pensioner up to 60  

- Contribution of replacement up to death of pensioner 

Annual cost of 
future pensioner at 
60 

Annual cost of 
future pensioner up 
to 60 

Annual cost of the 
pensioner from 60 
up to death 

Total cost of 
pensioner up to 
death 

Total cost of 
replacement up to 
death of pensioner 

Contributions of 
future pensioner up 
to 60 

Contribution of 
replacement up to 
death of pensioner 

Cost of normal 
retirement 

Retirement with 70% 

EN 

14 

   EN 

 
 
 
 
Pension percentage 

The  70%  ceiling  is  applied  only  for  persons  whose  pension 
percentage  at  60  does  not  exceed  70%.  For  those  whose  pension 
percentage at 60 exceeds 70%, the annual cost of the pension is that 
of a person retiring at 60. 

Years needed to 
reach 70% 

(70% - Pension percentage at 60) / (2% + 5% x pension percentage 
at 60) 

Pension age  

Annual cost of 
future pensioner 
with 70% 

Total cost of future 
pensioner up to 
70% 

Annual cost of the 
pensioner from 
70% up to death 

Total cost of 
pensioner up to 
death 

Total cost of 
replacement up to 
death of pensioner 

Contribution of 
future pensioner up 
to 70% 

Contribution of 
replacement up to 
death of pensioner 

Cost of normal 
retirement 

 Staff members acquire more years of pensionable service after 

60 (an additional 5% in respect of rights acquired at 60) 

60  years  plus  the  number  of  years  needed  to  reach  70%,  up  to  a 
maximum age of 65. 
Last monthly basic salary x 12 x annual increase (Age when 70% reached – 
Age at early retirement) 

Cumulated basic salaries of future pensioner up to 70% 

into  account 

taking 
promotion) 

the  average  annual 

increase  (step  and 

70% x Annual cost of future pensioner with 70% 

Annual  cost  of  pension  after  70%  up  to  death  x  (Age  at  death  – 
Pension age with 70%) 

The annual salary increase was calculated on the basis of the career 
development set out in Annex 1B to the Staff Regulations (3.4%). 

Total cost of future pensioner up to 70% x 10.9% 

Total cost of replacement up to death of pensioner x 10.9% 

Total cost of future pensioner up to 70%  

+ Total cost of pensioner up to death  

+ Total cost of replacement up to death of pensioner  

- Contribution of future pensioner up to 70%  

- Contribution of replacement up to death of pensioner 

Expatriation 

13.3%: rate used in the calculation in the draft 2010 budget 

EN 

15 

   EN 

 
 
 
 
allowance 

Country weighting  The average weighting used (3.48%) was calculated on the basis of the 

annual databases available:  

2004: 7.02316%; 

2005: 5.94000%; 

2006: 5.09164%; 

2007: 4.48229%; 

2008: 3.00952%; 

estimate for 2009: 3.00952% and  

from 2010: 3.00%  

Average: = 7.02316 + 5.94 + 5.09164 + 4.48229 + 3.00952 + 3.00952 + 3 x 
16)/22 = 3.48% 

EN 

16 

   EN 

 
 
Annex 3: 

Breakdown of early retirements by institution (2004-2009) 

227

62

52

14

14

13

3

2

COM

EP

CM

CoA

CJ

ESC 

AGENCIES

CoR

(a) 

 No. of Article 52 retirements (year N-1);
applicants and persons selected for early retirement
all institutions combined (2004-2009)

769

787

689

559

558

484

167

254

231

265

275

47

63

56

68

71

292

82

2004

2005

2006

2007

2008

2009

No. of "normal" retirements N-1 (Art.52)
No. of applicants for early retirement
No. of people selected for early retirement

(4) 

EN 

17 

   EN 

 
Breakdown of early retirements by gender for all 
institutions combined (2004-2008) 

Men
42%

Women
58%

(a) 

Breakdown of early retirements by function group 
for all institutions combined (2004-2008)

AST/ex-C
43%

AD
38%

AST/ex-B
19%

EUROPEAN COMMISSION 

EN 

18 

   EN 

 
 
 
 
342

380

355

415

432

431

81

26

122

36

126

131

167

180

33

42

46

44

2004

2005

2006

2007

2008

2009

Total no. of  Art 52 retirements (N-1)

Applicants for early retirement exercise

People selected for early retirement

COUNCIL 

113

92

82

75

84

55

32

34

35

30

31

13 7

9

8

9

10

9

2004

2005

2006

2007

2008

2009

Total no. of  Art 52 retirements (N-1)
People selected for early retirement

Applicants for early retirement exercise

EUROPEAN PARLIAMENT 

EN 

19 

   EN 

 
 
 
200

150

100

50

0

62

48

7

70

53

8

112

117

83

57

73

57

7

11

10

164

63

19

2004

2005

2006

2007

2008

2009

Total no. of Art 52 retirements N-1

Applicants for early retirement exercise

People selected for early retirement 

COURT OF JUSTICE 

15

15

18

4

2

5

3

3 3

19

12

9

5

2

6

2

7

2

2004

2005

2006

2007

2008

2009

Total no. of Art 52 retirements (N-1)

Applicants for early retirement exercise

People selected for early retirement

COURT OF AUDITORS 

EN 

20 

   EN 

 
 
 
12

13

11

7

3

2

4

3 3

4

3

6

5

5

2

2

4

2

2004

2005

2006

2007

2008

2009

Total no. of Art 52 retirements N-1 

Applicants for early retirement exercise

People selected for early retirement

ECONOMIC AND SOCIAL COMMITTEE 

27

23

19

16

12

12

9

11

7

2

3

2

4

1

11

2

7

3

2004

2005

2006

2007

2008

2009

Total no. of Art 52 retirements N-1

Applicants for early retirement exercise

People selected for early retirement

COMMITTEE OF THE REGIONS 

3

2

2

2

2

2

1

1

1 1

0 0 0

0 0

0 0

0

2004

2005

2006

2007

2008

2009

Total no. of Art 52 retirements (N-1)
Applicants for early retirement exercise
People selected for early retirement

EN 

21 

   EN 

 
 
 
 
AGENCIES 

24

14

9

16

8

9

9

5

10

5

1

0

0

0

2

4 4

0

2004

2005

2006

2007

2008

2009

Total no. of Art 52 retirements (N-1)

Applicants for early retirement exercise

People selected for early retirement

EN 

22 

   EN 

 
Example of calculation of early retirement at 57  
Comparison between cost of early retirement and cost of retirement at 60 

Annex 4 

EN 

23 

EN 

 
  
Exemple de calcul d'un retraité anticipé parti à 57 ans 

Comparaison coûts entre départ retraite anticipée et départ à 60 ans  

Age 

Pension 
rights 

"Normal" retirement (Art. 52 of Staff Regulations) 

Salary 

Contributions 

Pension 

Total 

Salary  

Pension 

replacement 

69.83% 

70.00% 

70.00% 

70.00% 

Future 
pensioner 

157 685.16 

163 046.46 

168 590.03 

174 322.10 

replacement 

Future 
pensioner 

17 187.68 

140 497.48 

52 392.00 

17 772.06 

145 274.39 

54 173.33 

18 376.31 

150 213.72 

56 015.22 

19 001.11 

155 320.99 

57 919.74 

57 

58 

59 

60 

61 

62 

63 

64 

65 

66 

67 

68 

69 

70 

71 

72 

73 

74 

75 

52 392.00 

54 173.33 

56 015.22 

57 919.74 

59 889.01 

61 925.24 

64 030.69 

66 207.74 

68 458.80 

70 786.40 

73 193.14 

75 681.70 

78 254.88 

80 915.55 

83 666.68 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

122 025.47 

5 710.73 

5 904.89 

6 105.66 

6 313.25 

6 527.90 

6 749.85 

6 979.35 

7 216.64 

7 462.01 

7 715.72 

7 978.05 

8 249.31 

8 529.78 

8 819.79 

168 706.74 

59 889.01 

170 293.90 

61 925.24 

171 935.03 

64 030.69 

173 631.95 

66 207.74 

175 386.57 

68 458.80 

177 200.85 

70 786.40 

179 076.82 

73 193.14 

181 016.56 

75 681.70 

183 022.26 

78 254.88 

185 096.15 

80 915.55 

187 240.55 

83 666.68 

189 457.87 

86 511.34 

191 750.57 

89 452.73 

Early retirement 

Contributions 

replacement 

pensioner 

Total 

▲ 

Early 
retirement – 
Art  52 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

110 111.55 

5 710.73 

5 904.89 

6 105.66 

6 313.25 

6 527.90 

6 749.85 

6 979.35 

7 216.64 

7 462.01 

7 715.72 

7 978.05 

8 249.31 

8 529.78 

8 819.79 

9 119.67 

9 429.74 

9 750.35 

156 792.82 

16 295.34 

158 379.98 

13 105.59 

160 021.11 

161 718.03 

9 807.39 

6 397.05 

163 472.65 

-5 234.08 

165 286.93 

-5 006.97 

167 162.90 

-4 772.13 

169 102.64 

-4 529.31 

171 108.34 

-4 278.24 

173 182.23 

-4 018.62 

175 326.63 

-3 750.18 

177 543.95 

-3 472.62 

179 836.65 

-3 185.61 

182 207.30 

-2 888.85 

184 658.56 

-2 582.00 

187 193.15 

-2 264.71 

189 813.93 

-1 936.64 

122 025.47 

9 119.67 

196 572.48 

95 638.92 

110 111.55 

10 424.64 

195 325.83 

-1 246.65 

194 121.22 

92 494.12 

110 111.55 

10 081.86 

192 523.81 

-1 597.41 

1 003 510.12 

663 643.75 

1 830 382.01 

109 382.60 

72 337.17 

3 315 816.10 

1 367 607.23 

2 092 119.40 

149 069.19 

3 310 657.44 

-5 158.66 

EA and weighting 
3.48% 

1 136 976.96 

751 908.36 

1 894 079.30 

123 930.49 

81 958.01 

3 577 076.13 

1 549 499.00 

2 164 925.15 

168 895.39 

3 545 528.76 

-31 547.37 

EN 

24 

EN 

 
  
 
 
  
 
  
  
  
  
  
 
 
 
  
 
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
Example of calculation of early retirement at 56 
Comparison between cost of early retirement and cost of retirement with 70% (at 63) 

70.00% 

Pension 
rights   

"Normal" retirement (Art  52. of Staff Regulations) 

Early retirement 

Salary 

Pension 

Contributions 

Total 

Salary 
Replacement 

Pension 

Contributions 

Total 

▲ 

Early 
retirement - 
Art  52 

Replacement 

47.67% 

49.67% 

51.67% 

53.67% 

55.67% 

60.45% 

65.48% 

70.00% 

Future 
pensioner 

127 183.32 

131 507.55 

135 978.81 

140 602.09 

145 382.56 

150 325.57 

155 436.64 

160 721.48 

50 160.00 

51 865.44 

53 628.86 

55 452.25 

57 337.62 

59 287.10 

61 302.86 

63 387.16 

65 542.32 

67 770.76 

70 074.97 

72 457.52 

56 

57 

58 

59 

60 

61 

62 

63 

64 

65 

66 

67 

68 

69 

70 

71 

72 

73 

74 

75 

Replacement 

Future 
pensioner 

Replacement 

Pension
er 

13 862.98 

113 320.34 

50 160.00 

60 628.29 

14 334.32 

117 173.23 

51 865.44 

60 628.29 

14 821.69 

121 157.12 

53 628.86 

60 628.29 

15 325.63 

125 276.46 

55 452.25 

60 628.29 

15 846.70 

129 535.86 

57 337.62 

60 628.29 

16 385.49 

133 940.08 

59 287.10 

60 628.29 

16 942.59 

138 494.04 

61 302.86 

60 628.29 

17 518.64 

143 202.84 

63 387.16 

60 628.29 

112 505.04 

112 505.04 

112 505.04 

5 467.44 

5 653.33 

5 845.55 

157 197.60 

65 542.32 

60 628.29 

158 717.14 

67 770.76 

60 628.29 

160 288.36 

70 074.97 

60 628.29 

112 505.04 

6 044.29 

161 912.99 

72 457.52 

60 628.29 

112 505.04 

6 249.80 

163 592.86 

74 921.07 

60 628.29 

112 505.04 

6 462.29 

165 329.85 

77 468.39 

60 628.29 

112 505.04 

112 505.04 

112 505.04 

112 505.04 

112 505.04 

6 682.01 

6 909.20 

7 144.11 

7 387.01 

7 638.17 

167 125.89 

80 102.32 

60 628.29 

168 983.00 

82 825.79 

60 628.29 

170 903.25 

85 641.87 

60 628.29 

172 888.79 

88 553.69 

60 628.29 

174 941.84 

91 564.52 

60 628.29 

5 467.44 

5 653.33 

5 845.55 

6 044.29 

6 249.80 

6 462.29 

6 682.01 

6 909.20 

7 144.11 

7 387.01 

7 638.17 

7 897.87 

8 166.40 

8 444.05 

8 731.15 

9 028.01 

9 334.96 

9 652.35 

9 980.53 

105 320.85 

-7 999.49 

106 840.40 

-10 332.83 

108 411.61 

-12 745.51 

110 036.24 

-15 240.22 

111 716.11 

-17 819.75 

113 453.10 

-20 486.98 

115 249.14 

-23 244.90 

117 106.25 

-26 096.59 

119 026.50 

-38 171.10 

121 012.04 

-37 705.11 

123 065.09 

-37 223.27 

125 187.94 

-36 725.05 

127 382.97 

-36 209.89 

129 652.62 

-35 677.22 

131 999.45 

-35 126.44 

134 426.07 

-34 556.93 

136 935.20 

-33 968.05 

139 529.63 

-33 359.16 

142 212.28 

-32 729.56 

112 505.04 

7 897.87 

177 064.69 

94 677.71 

60 628.29 

10 319.87 

144 986.13 

-32 078.55 

728 266.87 

1 147 138.02 

1 350 060.45 

79 381.09 

125 038.04 

3 021 046.21 

1 404 022.25 

1 212 565.77 

153 038.43 

2 463 549.60 

EA and weighting 
3.48%

825 126.37 

1 299 707.37 

1 397 042.55 

89 938.77 

141 668.10 

3 290 269.4
2 

1 590 757.21 

1 254 763.06 

173 392.54 

2 672 127.73 

EN 

25 

-
557 496.61 

-
618 141.69 

EN 

 
  
 
  
  
 
 
  
  
  
 
  
  
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
  
 
  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Example of calculation of early retirement at 57 
Comparison between cost of early retirement and cost of retirement with 70% (at 65) 

EN 

26 

EN 

 
  
Exemple de calcul d'un retraité anticipé parti à 57 ans 

Comparaison coûts entre départ retraite anticipée et départ à 70% (à 65 ans)

Pension 
rights 

AGE 

"Normal" retirement (Art.  52 of Staff Regulations) 

Early retirement 

Salary 

Contributions 

Total 

Contributions 

Replacement 

Future 
pensioner 

Replacement 

Future 
pensioner 

Pension 

Salary  

Pension 

Total 

Replacement  Pensioner 

▲ 
Early 
retirement 
Art  52 
(normal) 

57 

58 

59 

60 

61 

62 

63 

64 

65 

66 

67 

68 

69 

70 

71 

72 

73 

74 

75 

76 

77 

78 

79 

80 

81 

42.00% 

44.00% 

46.00% 

48.00% 

52.40% 

57.02% 

61.87% 

66.96% 

70.00% 

127 002.00 

131 320.07 

135 784.95 

140 401.64 

145 175.29 

150 111.25 

155 215.04 

160 492.35 

165 949.09 

50 868.00 

52 597.51 

54 385.83 

56 234.95 

58 146.93 

60 123.93 

62 168.14 

64 281.86 

66 467.44 

68 727.34 

71 064.07 

73 480.24 

75 978.57 

78 561.84 

81 232.95 

83 994.87 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

116 164.36 

5 544.61 

5 733.13 

5 928.06 

6 129.61 

6 338.02 

6 553.51 

6 776.33 

7 006.72 

7 244.95 

7 491.28 

7 745.98 

8 009.35 

8 281.66 

8 563.24 

8 854.39 

9 155.44 

13 843.22 

113 158.78 

50 868.00 

53 340.84 

14 313.89 

117 006.18 

52 597.51 

53 340.84 

14 800.56 

120 984.39 

54 385.83 

53 340.84 

15 303.78 

125 097.86 

56 234.95 

53 340.84 

15 824.11 

129 351.19 

58 146.93 

53 340.84 

16 362.13 

133 749.13 

60 123.93 

53 340.84 

16 918.44 

138 296.60 

62 168.14 

53 340.84 

17 493.67 

142 998.68 

64 281.86 

53 340.84 

18 088.45 

147 860.64 

66 467.44 

53 340.84 

161 487.75 

68 727.34 

53 340.84 

163 028.74 

71 064.07 

53 340.84 

164 622.13 

73 480.24 

53 340.84 

166 269.70 

75 978.57 

53 340.84 

167 973.28 

78 561.84 

53 340.84 

169 734.78 

81 232.95 

53 340.84 

171 556.18 

83 994.87 

53 340.84 

173 439.50 

86 850.69 

53 340.84 

175 386.85 

89 803.62 

53 340.84 

5 544.61 

5 733.13 

5 928.06 

6 129.61 

6 338.02 

6 553.51 

6 776.33 

7 006.72 

7 244.95 

7 491.28 

7 745.98 

8 009.35 

8 281.66 

8 563.24 

8 854.39 

9 155.44 

9 466.73 

9 788.59 

177 400.42 

92 856.94 

53 340.84 

10 121.41 

179 482.44 

96 014.07 

53 340.84 

10 465.53 

181 635.26 

99 278.55 

53 340.84 

10 821.36 

183 861.27 

102 654.02 

53 340.84 

11 189.29 

186 162.96 

106 144.26 

53 340.84 

11 569.72 

188 542.92 

109 753.17 

53 340.84 

11 963.10 

191 003.79 

113 484.77 

53 340.84 

12 369.84 

98 664.23 

-14 494.5

100 205.22 

-16 800.9

101 798.61 

-19 185.7

103 446.18 

-21 651.6

105 149.76 

-24 201.4

106 911.26 

-26 837.8

108 732.66 

-29 563.9

110 615.98 

-32 382.7

112 563.33 

-35 297.3

114 576.90 

-46 910.8

116 658.92 

-46 369.8

118 811.74 

-45 810.4

121 037.75 

-45 231.9

123 339.44 

-44 633.8

125 719.40 

-44 015.3

128 180.27 

-43 375.9

130 724.81 

-42 714.6

133 355.86 

-42 030.9

136 076.37 

-41 324.0

138 889.38 

-40 593.0

141 798.03 

-39 837.2

144 805.58 

-39 055.6

147 915.38 

-38 247.5

151 130.91 

-37 412.0

154 455.77 

-36 548.0

1 058 314.47 

1 311 451.68 

1 858 629.79 

115 356.28  142 948.23 

3 970 091.42 

1 955 154.56  1 333 521.00 

213 111.85 

3 075 563.72 

-894 527.7

EA and 
weighting 3.48% 

1 199 070.29 

1 485 874.75 

1 923 310.10 

130 698.66  161 960.35 

4 315 596.14 

2 215 190.12  1 379 927.53 

241 455.72 

3 353 661.93 

-961 934.2

EN 

27 

EN 

 
  
  
  
  
  
  
  
  
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
  
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
Example of calculation of early retirement at 56 
Comparison between cost of early retirement and cost of retirement at 60  

EN 

28 

EN 

 
  
Exemple de calcul d'un retraité anticipé parti à 56 ans 

Comparaison coûts entre départ retraite anticipée et départ à 60 ans 

"Normal" retirement (Art.  52 of Staff Regulations) 

Salary 

Contributions 

Early retirement 

Contributions 

Pension 
rights  

AGE 

Replacement 

67.67% 

69.67% 

70.00% 

70.00% 

70.00% 

Future 
pensioner 

95 476.80 

98 723.01 

102 079.59 

105 550.30 

109 139.01 

39 180.00 

40 512.12 

41 889.53 

43 313.78 

44 786.44 

46 309.18 

47 883.70 

49 511.74 

51 195.14 

52 935.78 

54 735.59 

56 596.60 

58 520.89 

60 510.60 

62 567.96 

56 

57 

58 

59 

60 

61 

62 

63 

64 

65 

66 

67 

68 

69 

70 

71 

72 

73 

74 

75 

▲ 
Early 
retirement- Art  
52 (Normal) 

Pension 

Replacement 

Future 
pensioner 

Total 

Salary 

Pension 

Total 

Replacement  Pensioner 

10 406.97 

10 760.81 

11 126.68 

11 504.98 

11 896.15 

85 069.83 

39 180.00 

64 609.15 

87 962.20 

40 512.12 

64 609.15 

90 952.92 

41 889.53 

64 609.15 

94 045.32 

43 313.78 

64 609.15 

97 242.86 

44 786.44 

64 609.15 

111 306.69 

46 309.18 

64 609.15 

112 493.61 

47 883.70 

64 609.15 

113 720.88 

49 511.74 

64 609.15 

114 989.88 

51 195.14 

64 609.15 

116 302.03 

52 935.78 

64 609.15 

117 658.79 

54 735.59 

64 609.15 

119 061.68 

56 596.60 

64 609.15 

120 512.27 

58 520.89 

64 609.15 

122 012.18 

60 510.60 

64 609.15 

123 563.08 

62 567.96 

64 609.15 

125 166.72 

64 695.27 

64 609.15 

126 824.88 

66 894.91 

64 609.15 

128 539.42 

69 169.33 

64 609.15 

130 312.25 

71 521.09 

64 609.15 

132 145.36 

73 952.81 

64 609.15 

4 270.62 

4 415.82 

4 565.96 

4 721.20 

4 881.72 

5 047.70 

5 219.32 

5 396.78 

5 580.27 

5 770.00 

5 966.18 

6 169.03 

6 378.78 

6 595.66 

6 819.91 

7 051.78 

7 291.54 

7 539.46 

7 795.80 

8 060.86 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

76 397.31 

4 270.62 

4 415.82 

4 565.96 

4 721.20 

4 881.72 

5 047.70 

5 219.32 

5 396.78 

5 580.27 

5 770.00 

5 966.18 

6 169.03 

6 378.78 

6 595.66 

6 819.91 

99 518.53 

14 448.70 

100 705.45 

12 743.25 

101 932.72 

10 979.81 

103 201.73 

104 513.87 

105 870.63 

107 273.52 

9 156.41 

7 271.01 

-5 436.05 

-5 220.08 

108 724.11 

-4 996.77 

110 224.02 

-4 765.86 

111 774.93 

-4 527.10 

113 378.56 

-4 280.23 

115 036.72 

-4 024.96 

116 751.26 

-3 761.01 

118 524.09 

-3 488.09 

120 357.20 

-3 205.88 

122 252.63 

-2 914.09 

124 212.51 

-2 612.37 

126 239.03 

128 334.44 

-2 300.39 

-1 977.81 

130 501.10 

-1 644.25 

750 449.04 

510 968.71 

1 145 959.60 

81 798.95 

55 695.59 

2 269 882.83 

1 096 682.45 

1 292 183.01 

119 538.39 

2 269 327.07 

-555.75 

EA and weighting 
3.48% 

850 258.77 

578 927.55 

1 185 839.00 

92 678.21 

63 103.10 

2 459 244.01 

1 242 541.22 

1 337 150.98 

135 436.99 

2 444 255.20 

-14 988.81 

EN 

29 

EN