Personnel expense

In CHF million   2013   2012   Change
Salary and wage costs   2,132   2,058   3.6%
Social security expenses   224   222   0.9%
Pension cost   269   62   333.9%
Restructuring costs   6   68   –91.2%
Other personnel expenses   75   75  
Total personnel expense   2,706   2,485   8.9%
Thereof personnel expense in Switzerland   2,440   2,216   10.1%
Thereof personnel expense in Italy   227   233   –2.6%
Thereof personnel expense in other countries   39   36   8.3%

Personnel expense increased by CHF 221 million or 8.9% year-on-year to CHF 2,706 million. The prior-year figure contains a reduction of CHF 157 million due to a one-off non-cash pension plan amendment as well as restructuring costs of CHF 68 million. Discounting these special effects and adjusting for acquisition of subsidiaries, personnel expense increased by 2.9%, with employees in Switzerland accounting for CHF 2,440 million (prior year: CHF 2,216 million) or 90.2% of the total (prior year: 89.2%).

See Report