The minimum plan is the most minimal plan pension providers are willing to offer (and therefore may vary between providers). It is a typical pension plan designed for companies who want to provide a group pension plan at low/reasonable costs. This plan easily accommodates companies on a budget and can be simply forecasted over several years.
- Employer stands out positively in the market when compared to other employers who do not offer a group pension plan.
- Minimum cost is calculated as a percentage of the total annual wage (for example 2%, 4%, 5% etc).
- Risk cover (widowers/orphans) included.
- Relatively low old-age pension accrual.
- Optional: Additional payments by employees.
- Easy to upgrade according to the evolving financial situation of the company.
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.