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Through membership in a voluntary pension fund, a member is offered a possibility that the voluntary pension savings are paid for him by the employer. All the payments of the employer into the third Pillar of the pension insurance are not considered a salary up to the amount of 500.00 kuna per month i.e. up to 6,000.00 kuna annually, and the same is a tax recognized expenditure, i.e. expense for the employer.
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The benefits of the voluntary pension savings have been recognised by many Croatian employers who decided to make payments in the Raiffeisen voluntary pension fund for their employees, which is a non-taxable expense.
Some of them decided to share their experiences and reasons for making such a decision:
|Nataša Kučera, HRM and QMS Service Director
„One of the main principles of the InfoDom Group is to “Teach Yourself and Others".
Since we are continuously trying to improve ourselves and improve the skills and knowledge of others, i.e. our clients and partners, and due to the fact that our employees represent the backbone of our business, in this way we tried to make our employees aware of the socially responsible behaviour, while also awarding them for their results. Our employees have recognised the advantages of the voluntary pension savings to the great extent.
We received information on the voluntary pension savings through keeping continuous track of legal regulations, but we made our final decision after the presentation held by your experts, who have provided us with detailed information on all the benefits for the employees, as well as for the employer.
We would like to recommend making payments in the voluntary pension fund to all employers who wish to motivate their employees and let them know that they are satisfied with their results.“
|Vlado Ivetić, owner
„I received the initial information about the voluntary pension savings by contacting Mrs. Mrkonjić, who is an associate of the Raiffeisen pension company, and who presented me with the advantages of the voluntary pension savings, after which we arranged a meeting. This was a great novelty for me and at the same time a possibility to save for the days when we will be older and helpless, and when every penny will mean a lot to us.
We make regular payments in the voluntary pension fund for our employees, because I believe that the company in which the employees spend a big portion of their lives, can and must participate, at least a little bit, in making life easier for its employees in their retirement, thus enabling them to remember their employer as somebody who took some care of them, within his abilities, and in addition to the regular salary and contributions.
The very fact that making payments in the voluntary pension fund is a non-taxable expense, which I was not aware of, and I found out about it during the first meeting, was an additional motivation for me to start making payments.
When we presented our proposal of making payments in the certain amounts to our employees, they also recognised the advantages themselves and started making their own payments each month.
My recommendation to all employers who care about their employees is to give a good thought about making payments in the voluntary pension fund, due to several reasons:
1. SATISFIED EMPLOYEE
2. NON-TAXABLE EXPENSE FOR THE COMPANY
3. MONEY INVESTED IN A GOOD WORKER RESULTS IN MULTIPLE RETURNS
And definitely, in the end, I would recommend the Raiffeisen pension fund, which I find a very serious company with fantastic results.“
„Making payments in the voluntary pension fund represents one of the ways to stimulate the satisfaction of employees. It is one of those provisions of the employment contract that the employees do not count on in advance and consider it to be a kind of benefit. Considering the fiscal treatment, as well as the accompanying state incentive – we believe that the voluntary pension savings represents a very attractive product for both, employees and employers.
Although we actively keep track of legal regulations and try to keep ourselves up to date with the novelties, the associates of the Raiffeisen voluntary pension fund also made an effort to clarify every detail of the fiscal aspect of the voluntary pension savings.
The fact that some of our employees make their own payments in the voluntary pension fund, in addition to the payments made by their employer, tells us that the advantages of the voluntary pension savings are well-known. However, not all of our employees are equally aware of the financial aspect, and not all of them are taking active part in the savings – whether by making their own payments or by keeping track of their account balance. And since the payments made by the employer are not directly visible, nor stated on the payment slips, those who are less active get to be pleasantly surprised when they receive the annual statement from their pension fund.
In relation to already mentioned, we can conclude that the voluntary pension savings was a good choice of stimulant for our employees and we would recommend it to other employers.“