2020 INTEGRATED REPORT

26. EXPENSES Group 2020 2019 R’m R’m Acquisition of insurance contracts: Long-term insurance 283 306 Short-term Insurance 14 14 Multi-managers' fees in PPS Investments 117 104 Marketing and administrative expenses include: Amortisation and impairment of intangible assets (note 4) 44 52 Auditor's remuneration 9 9 – Audit fees 9 8 – Other services 0.3 0.4 Data processing and information technology systems maintenance 227 214 Depreciation on property and equipment (note 2) 77 78 Directors’/Trustees’ and executives’ remuneration 41 38 – Directors/Trustees – non-executive 11 10 – Executive directors of PPS Insurance 22 23 – Directors of other subsidiaries 8 5 Employee costs (note 27) 950 883 Fees for services 19 21 – Actuarial 7 11 – Legal 9 7 – Internal audit 3 3 Investment management fees 74 97 Other administration, maintenance and product development expenses 252 388 Operating lease rentals 1 6 Total expenses 2 108 2 210 Value-Added Tax which cannot be recovered from the relevant taxation authority is expensed together with the related expense. 27. EMPLOYEE COSTS Group 2020 2019 R’m R’m Salaries and related costs 721 699 Pension costs – defined contribution plans 81 73 Other post-employment benefits (note 18) 1 1 Performance-related incentives 147 110 Total employee costs (excluding executives) 950 883 PPS INTEGRATED REPORT 2020 | 171