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Remuneration and benefits for EIB staff

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Remuneration and benefits for EIB staff

This page refers to remuneration and benefits applicable to EIB employees only. For information regarding the remuneration of members of the Governing Bodies, please click on http://www.eib.org/about/governance-and-structure/statutory-bodies/remuneration.htm.

The EIB offers competitive terms of employment and a balanced remuneration package composed of the base salary, variable remuneration, benefits and pension scheme.

Base salaries and variable remuneration

EIB annual base salaries are determined according to the level of responsibility of the job. There are 9 Grade levels at the EIB. The corresponding salary bands for 2017 are available below (minimum and maximum for each band).

The 2017 Salary Bands (in gross terms)

Grade level

Minimum (EUR)

Maximum (EUR)

9

231 026.64

258 151.32

8

202 959.76

240 878.41

7

122 855.64

196 569.02
6

93 619.88

149 791.81

5

70 679.01

113 086.42

4

56 155.26

89 848.41
3

50 407.73

80 652.36
2

42 752.60

68 404.16
1 33 760.39 54 016.62

Salary increase and promotion to higher responsibilities are based on performance and professional development. Evaluation of merit is expressed in a performance profile following an annual performance evaluation exercise conducted by management for all staff members.

The EIB may, under certain conditions, distribute an annual award. The total amount for the 2016 performance represented approximately 17% of the total annual salary mass.

This performance award is partly distributed to staff based on the Bank’s performance and partly to individual employees according to their performance. The total annual performance award cannot exceed 35% of an individual’s annual base salary.

The EIB conducts regular remuneration surveys to monitor the external competitiveness of its pay conditions.

Income tax

The Protocol of Privileges and Immunities of the European Communities applies to staff of the EIB.

EIB staff are liable to pay income tax to the European Union on their EIB salaries and pensions. This tax is withheld at source by the EIB. Staff are exempt from paying national taxes on their EIB income.

Tax scale

The tax scale is progressive: the greater the taxable income, the higher the rate of tax. The scale is divided into income brackets with increasing percentages of taxation, from 0% to 45%. The original tax scale was laid down in 1968 by EC Regulation No 260/68 on tax, with a coefficient of 100%. This coefficient is readjusted on a regular basis by the Council of Ministers of the European Union and published in the Official Journal.

Benefits and other advantages

The Bank’s remuneration package includes a comprehensive range of benefits and advantages that include, subject to eligibility:

Financial

Non-financial

  • Installation allowances & assistance 
  • Expatriation allowance
  • Family, dependent child and school allowances
  • Annual travel allowance for you and your family
  • A comprehensive Healthcare Scheme
  • Insurance coverage for life and accidents
  • A defined benefit Pension Scheme
  • Subsidised housing loan
  • Subsidised restaurants for staff in EIB premises in Luxembourg
  • Free public bus transport within the city of Luxembourg
  • Free parking at EIB offices
  • Sponsored membership of the "Cercle" for sports and cultural activities
  • Guaranteed place, free of charge, at the European School for children of staff based in the Luxembourg office
  • A minimum of 24 days of annual leave, plus special leave days
  • 17 Bank holidays
  • Flexible working arrangements, including part-time positions
  • Training and development programme
  • Internal mobility programme
  • Business travel assistance

Pension

EIB pension scheme offers financial protection if staff become incapacitated, retire or die.

This financial protection is made up of 2 schemes that work together to provide comprehensive coverage:

  • the mandatory Staff Pension Scheme;
  • the Optional Supplementary Provident Scheme.

Disclosure of financial information on Key Management Personnel

Information regarding the financial accounts of key management personnel can be found in the EIB Financial Statements.



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