metalloinvest from March 1, 2020 will increase the income of employees of the Company.

the wage Fund (PAYROLL) will be increased by 5%. The growth amounted to 1.7 billion rubles, including contributions to social insurance.

the Main part of these funds will be aimed at ensuring wage growth 4% (above inflation in 2019).

the Remaining 1% increase in the PAYROLL will be distributed to higher wages for certain types of payments, categories of staff and professions. In particular, it is planned to increase a number of existing premiums and allowances.

the Relevant decisions adopted on the Social Board of the metalloinvest - a collective body of social and labor partnership between employees and employer. Part of Socsouth includes the Management of the company, metalloinvest enterprises and representatives of trade Union organizations.

"We found an opportunity to increase the income of our employees in a difficult situation of falling world prices for iron ore and steel products, - noted General Director UK "metalloinvest" Andrey Varichev. – This increase should be the stimulus for the growth of labor productivity and motivation of employees. The important contribution of each to the cause. By results of work of the enterprises of the group in the first half of the year will consider possibility of additional increase of the PAYROLL in the current year".

Social Council also decided to set the minimum wage at a level not below 1.8 the subsistence minimum (previously 1.3 x).

Also decided to index at 3% the size of conventional units of measuring benefits (OMROT) for 2020. UMRAT tied to the amount of financial support to several categories of workers.

the wage Level at the enterprises of metalloinvest, substantially above the average monthly wage in the regions of presence. Income of employees the company is among the leaders in the mining and metallurgical industry in Russia.

In 2014-2019, the average monthly income of employees, depending on the company, increased by 43-51%, significantly ahead of growth in consumer prices.

the motivation System in the Company is aimed at improving the efficiency and quality of work – the amount of remuneration of each employee depends on the results of his work. Payments of premiums by results of work for the year for operating results, for the promotion of innovation, operational improvements, compliance with the rules of labor protection and others.

In metalloinvest is one of the best social packages in the industry. Health care employees provide a strong medical base, trips for recreation and leisure, including for employees ' children. The company pays monthly benefits to retirees, and also provides employees with material assistance in difficult life situations.

Directions of social support of workers fixed in collective agreements. When changing the existing and introduction of new social programs by the employer together with the Union representatives conducted comprehensive analysis and developed optimal solutions taking into account the interests of employees and opportunities for the company.

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