Notes to the financial statements
8. Remuneration of key management personnel
The key management personnel (as defined by IAS 24 ‘Related Party Disclosures’) of the Group are deemed to be the executive and non-executive directors of IPF plc and the members of the management team specified in the senior management team section of this annual report.
| Group | 2008 £m |
2007 £m |
|---|---|---|
| Short-term employee benefits | 4.9 | 3.5 |
| Post-employment benefits | 0.3 | 0.3 |
| 5.2 | 3.8 |
Short-term employee benefits comprise salary / fees, bonus and benefits earned in the year. Post-employment benefits represent the sum of (i) the increase in the transfer value of the accrued pension benefits (less contributions); and (ii) Group contributions into personal pension arrangements.
Disclosures in respect of the Group’s highest paid director are included in the directors’ remuneration report.