PPS Integrated Report 2021 Notes to the Consolidated Financial Statements | 182 Notes to the Consolidated Financial Statements (continued) for the year ended 31 December 2021 27. EXPENSES Group 2021 2020 Restated R’m R’m Acquisition of insurance contracts: Long-term insurance 317 283 Short-term Insurance 15 14 Multi-managers' fees in PPS Investments 138 117 Marketing and administrative expenses include: Amortisation and impairment of intangible assets (note 5) 53 44 Auditor's remuneration 9 9 – Audit fees 9 9 – Other services 0.1 0.3 Data processing and information technology systems maintenance 322 227 Depreciation on property and equipment (note 2) 71 77 Directors’/Trustees’ and executives’ remuneration 46 41 – Directors/Trustees – non-executive 11 11 – Executive directors of PPS Insurance 25 22 – Directors of other subsidiaries 10 8 Employee costs (note 28) 1 075 950 Fees for services 26 19 – Actuarial 10 7 – Legal 13 9 – Internal audit 3 3 Investment management fees 184 97 Other administration, maintenance and product development expenses 252 252 Operating lease rentals 3 1 Total expenses 2 511 2 131 Value-Added Tax which cannot be recovered from the relevant taxation authority is expensed together with the related expense. 28.EMPLOYEE COSTS Group 2021 2020 R’m R’m Salaries and related costs 816 721 Pension costs – defined contribution plans 90 81 Other post-employment benefits (note 19) – 1 Performance-related incentives 169 147 Total employee costs (excluding executives) 1 075 950
RkJQdWJsaXNoZXIy NzI4MzY4