{"id":119818,"date":"2025-01-30T12:01:33","date_gmt":"2025-01-30T12:01:33","guid":{"rendered":"https:\/\/turtas.lt\/?post_type=administrative-info&#038;p=119818"},"modified":"2025-01-30T12:01:33","modified_gmt":"2025-01-30T12:01:33","slug":"wage-and-remuneration-policy","status":"publish","type":"administrative-info","link":"https:\/\/turtas.lt\/en\/administrative-information\/wage-and-remuneration-policy\/","title":{"rendered":"Wage and Remuneration Policy"},"content":{"rendered":"\n<p>The remuneration that the employees of Turto Bankas receive is determined by following the Employees\u2019 Remuneration Policy approved through the decision of the Board of the Company. It determines common, clear and transparent rules for paying and inciting the employees for their work. Moreover, the employees\u2019 remuneration system is based on these rules. The remuneration policy is applied to all employees of Turto Bankas.<\/p>\n\n\n\n<p>The remuneration of the company\u2019s employees consists of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>a fixed remuneration component;<\/li>\n\n\n\n<li>a variable remuneration component.<\/li>\n<\/ul>\n\n\n\n<p>The remuneration for the Director of Turto Bankas is determined by following the&nbsp;<a href=\"https:\/\/e-seimas.lrs.lt\/portal\/legalAct\/lt\/TAD\/TAIS.179051\/asr\">Decree<\/a> of the Government of the Republic of Lithuania and consist of the fixed and variable remuneration components depending on the goals of the company and the results achieved. You may familiarise yourself with them <a href=\"https:\/\/turtas.lt\/wp-content\/uploads\/2024\/06\/atlygis-2024-06.docx\">here<\/a>.<\/p>\n\n\n\n<p>The remuneration of the Members of the Board of Turto Bankas is determined by following the <a href=\"https:\/\/www.e-tar.lt\/portal\/lt\/legalAct\/a9e4857055b911edbc04912defe897d1\">order<\/a> of the Minister of Finance and conforms to the provisions of the&nbsp;<a href=\"https:\/\/e-seimas.lrs.lt\/portal\/legalAct\/lt\/TAD\/3d064b61788e11e59a1ed226d1cbceb5\/asr\">Decree<\/a> of the Government of the Republic of Lithuania, according to which the remuneration of Board Members, including the Chairperson, cannot be more than 1\/5 of the average monthly wage of the Company\u2019s Manager.<\/p>\n\n\n\n<p>The remuneration for the independent members of the Audit Committee of Turto Bankas is determined by following the provisions of the Articles of Association of Turto Bankas, which were approved through the 30 September 2014 Minister of Finance of the Republic of Lithuania Order No 1K-300 \u2018On the Approval of State Enterprise Turto Bankas\u2019 Articles of Association\u2019 (with later supplementations and amendments), according to which the value of remuneration may be up to 1\/8 of the average monthly wage of the Company\u2019s Manager (other members of the board do not receive any remuneration for work in the Audit Committee).<\/p>\n\n\n\n<p>The employees of Turto Bankas also receive various additional benefits, which are envisaged in the <a href=\"https:\/\/turtas.lt\/wp-content\/uploads\/2023\/09\/atlygio-politika.pdf\">Remuneration Policy<\/a> and in the <a href=\"https:\/\/socmin.lrv.lt\/uploads\/socmin\/documents\/files\/veikla\/paslaugos\/sutartys\/kolektyvines\/turto%20bankas%20ks2022%2003%2001.pdf\">Collective Agreement<\/a>.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"featured_media":0,"menu_order":5,"template":"templates-administrative-information\/wage.php","class_list":["post-119818","administrative-info","type-administrative-info","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wage and Remuneration Policy - Turto Bankas<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/turtas.lt\/en\/administrative-information\/wage-and-remuneration-policy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wage and Remuneration Policy - Turto Bankas\" \/>\n<meta property=\"og:description\" content=\"The remuneration that the employees of Turto Bankas receive is determined by following the Employees\u2019 Remuneration Policy approved through the decision of the Board of the Company. It determines common, clear and transparent rules for paying and inciting the employees for their work. Moreover, the employees\u2019 remuneration system is based on these rules. 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