19. Assets and liabilities of the Company Social Benefits Fund


The Company Social Benefits Fund and other Special Funds

Pursuant to the Social Benefits Fund Act of 4 March 1994, as amended, a Company Social Benefit Fund is established by entities employing more than 20 people calculated in full-time positions. The companies making up the Group establish such a fund and make periodic contributions to it. The objective of the Fund is to subsidise the Group’s social activities, loans granted to employees, as well as other social costs. Contributions to the Company Social Benefits Fund made during the course of a year constitute costs incurred in a given period.

The assets and liabilities of the Company Social Benefits Fund are shown in the financial statements on a net basis.

As at
December 31, 2020
As at
December 31, 2019
Property, plant and equipment contributed to Fund
Loans granted to employees 76 80
Cash and cash equivalents 55 48
Fund’s liabilities (120) (120)
Contribution to Fund during period 198 171

Additionally, as described in note 22, the PGE Group companies recognise a provision for post-employment benefits (Company Social Benefits Fund).

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