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Compensation and benefits

12 Months Ended

Dec. 31, 2011

Compensation and benefits

in		2011		2010		2009



Compensation and benefits (CHF million)



Salaries and variable compensation		11,474		12,481		13,412



Social security		865		928		1,015



Other¹		874		1,190		586



Compensation and benefits		13,213	²	14,599		15,013



1 Includes pension and other post-retirement expense of CHF 610 million, CHF 483 million, CHF 347 million in 2011, 2010 and 2009, respectively, and the UK levy on variable compensation of CHF 404 million in 2010. 2 Includes severance and other compensation expense relating to headcount reductions of CHF 715 million.

Bank

Compensation and benefits

in		2011		2010		2009



Compensation and benefits (CHF million)



Salaries and deferred and variable compensation expense		10,839		11,885		12,857



Social security		819		884		973



Other¹		1,125		1,603		876



Compensation and benefits		12,783	²	14,372		14,706



1 Includes pension and other post-retirement expense of CHF 869 million, CHF 905 million and CHF 641 million, in 2011, 2010 and 2009, respectively, and the UK levy on variable compensation of CHF 404 million in 2010. 2 Includes severance and other compensation expense relating to headcount reductions of CHF 539 million.

The entire disclosure for compensation costs, including compensated absences accruals, compensated absences liability, deferred compensation arrangements and income statement compensation items. Deferred compensation arrangements may include a description of an arrangement with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares (units) issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

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