NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022 27. Expenses Group 2022 2021 Restated R’m R’m Acquisition of insurance contracts: Long-term insurance 348 317 Short-term Insurance 16 15 Multi-managers' fees in PPS Investments 201 138 Marketing and administrative expenses include: Amortisation and impairment of intangible assets (note 5) 73 53 Auditor's remuneration 15 9 – Audit fees 15 9 – Other services – 0.1 Data processing and information technology systems maintenance 329 322 Depreciation on property and equipment (note 2) 61 71 Directors’/Trustees’ and executives’ remuneration 44 46 – Directors/Trustees – non-executive 13 11 – Executive directors of PPS Insurance 23 25 – Directors of other subsidiaries 8 10 Employee costs (note 28) 1 152 1 075 Fees for services 23 26 – Actuarial 10 10 – Legal 9 13 – Internal audit 4 3 Investment management fees 138 184 Other administration, maintenance and product development expenses 302 239 Lease rentals 5 3 Total expenses 2 707 2 498 Value-Added Tax which cannot be recovered from the relevant taxation authority is expensed together with the related expense. Prior year was restated due to a reclassification of a tax expense included in expenses in 2021. 28. Employee costs Group 2022 2021 R’m R’m Salaries and related costs 874 816 Pension costs – defined contribution plans 100 90 Other post-employment benefits (note 19) 1 – Performance-related incentives 177 169 Total employee costs (excluding executives) 1 152 1 075 156 Notes to the Consolidated Financial Statements
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