Minimum plan
The minimum plan is the most basic option available from pension providers, varying slightly by provider. It’s ideal for companies with limited budget seeking a cost-effective group pension plan. Designed with budget-conscious businesses in mind, this plan offers straightforward forecasting over multiple years while still providing essential coverage.
Keywords:
- Basic, low-cost group pension option (varies by provider).
- Ideal for companies with limited budget.
- Simple, predictable costs for easy long-term planning.
- Essential coverage at minimal expense.
Key features:
- Enhances employer attractiveness compared to those without a group pension plan.
- Costs calculated as a small percentage of total annual wages (e.g., 2%, 4%, 5%).
- Includes risk cover (widow/orphan benefits).
- Provides relatively low old-age pension accrual.
- Option for additional employee contributions.
Key Benefits:
- Easily upgraded as the company’s financial situation improves.
- HARPER offers support in setting up, maintaining, and monitoring multinational pooling programs for maximum benefits from global pension plans.
- Customization within legal, tax, and provider guidelines is available.
HARPER can assist any company in setting up, maintaining, and monitoring multinational pooling programs. This ensures a company will have maximum benefits (dividends) from its international Group Pension footprint.
Please note: Any other plan within this framework is possible, taking into account legal and tax regulations, as well as provider specifics.