At BeFrank we offer collective, defined contribution pension plans and insurances.
BeFrank allows you to offer your employees the option to save for their pension in a transparent way. With effect from 1 January 2015, the legislation on pension accruals for salaries up to €100,000 differs from that for salaries in excess of €100,000. BeFrank has a solution for both populations. The normal pension plan applies for salaries up to €100,000. The net pension plan is available for salaries in excess of €100,000. The limit of €100,000 is adjusted annually and amounts €105,075 in 2018.
You can choose whether to offer your employees only the standard pension plan, only the net plan (where applicable), or both. Both plans offer identical benefits and investment opportunities.
Our pension plan is suitable for organisations with more than 50 employees. Your employees make defined contributions to save a pension capital for themselves. No hidden costs are deducted from the contributions: 100% is invested within one of our lifecycles. Read more on investing with BeFrank here.
With the BeFrank net pension plan, employees with a salary in excess of €100,000 per year can make additional contributions on a voluntary basis. You pay the contributions on behalf of your employee from their net salary. These pension savings are in the second pillar. This will mean that your employee will not have to pay tax on the value of this net pension in box 3 of their tax return. The net pension savings are used to purchase a pension. The benefits received from this pension are not taxable.
Your employees may also opt to take out an insurance-based partner’s pension for the salary in excess of €100,000.