Remuneration & benefits

This page refers to remuneration and benefits applicable to EIF employees only.
For information regarding remuneration of members of the Governing Bodies, click here

The EIF offers a competitive employment and remuneration package composed of base salary, variable remuneration, benefits as well as health and pension schemes. Compensation and benefits are explained fully during the recruitment process and benefits are detailed in the Staff Regulations, which form an integral part of the employment contract.

Compensation

• Salary
  EIF salaries are designed to be competitive, to take into account the differing levels of responsibility and to motivate and encourage performance. 
  
  There are 9 Grade levels at the EIF. The corresponding salary bands are available below (minimum and maximum for each band).

Salary Bands (in gross terms):

Salary increase and promotion to higher responsibilities are based on performance and professional development. Evaluation of merit is expressed in a performance profile following an annual performance evaluation exercise conducted by management for all staff members.

The EIF may, under certain conditions, distribute an annual performance award. The EIF performance award envelope is impacted by the EIF’s achievements of its annual objectives, as approved by the Board, and is distributed to staff according to individual performance. The net annual performance award granted to a staff member cannot exceed 35% of his/her annual basic salary.

• Income tax

The Protocol of Privileges and Immunities of the European Union applies to our staff.

You are liable to pay income tax to the European Union on your EIF salary and pensions. We withhold this tax at source. You are exempt from paying national taxes on your EIF income.

• Tax scale

The tax scale is progressive: the greater the taxable income, the higher the rate of tax. The scale is divided into income brackets with increasing percentages of taxation, from 0% to 45%. The original tax scale was laid down in 1968 by EC Regulation No 260/68 on tax, with a coefficient of 100%. This coefficient is readjusted on a regular basis by the Council of Ministers of the European Union and published in the Official Journal.

Other benefits (financial and non-financial)

The EIF offers a comprehensive range of benefits and advantages, subject to eligibility, including:

• Installation allowance and relocation assistance
• Expatriation allowance
• Family allowance
• Child Assistance Allowance
• A defined benefit Pension Scheme (with the possibility to subscribe to an Optional Supplementary Provident Scheme)
• A comprehensive Health Insurance Scheme
• Accident and Life Insurance
• Subsidised housing loans
• Training and Development Programme
• Career development opportunities
• Annual leave (24 days per calendar year, 17 EIB Group bank holidays, special leave for family events)
• Flexible working arrangements (teleworking, part-time)

Benefits upon departure:

• Resettlement allowance and relocation assistance
• Termination allowance paid at the expiry of a fixed-term contract