Company pension schemes – comprehensive advice for needs-oriented cover

Company pension schemes are an important topic in German companies. Changes in jurisdiction, demographic developments, new legislation and not least, adjustments to products have meant that company pension schemes have changed quickly in past years and will continue to change in the future.

Every employee has a legal claim to salary sacrifice – that’s why company pension schemes are and will remain an essential, indispensable part of the remuneration package. But having a holistic company pension scheme also has advantages for you as an employer: it strengthens employee retention and increases your company’s appeal in a highly competitive job market, whilst at the same time making it easier to more effectively control the administrative costs and liability protection of the company pension.

As your competent partner, Funk can advise you in all matters of the complex and dynamic landscape of company pension schemes, such as:

  • Introduction, harmonisation or replacement of pension schemes
  • Legal judgements/statements concerning company pension schemes
  • Comprehensive placement and tender procedures
  • Guidance in company acquisitions and spin-offs
  • Pensions for managing partners and executives
  • Employee communication

 
As your reliable partner in all matters concerning company pension schemes, we provide our expertise and years of experience to you and devise an individual pension solution that meets all of your company-specific needs.

 

Actuarial services – understand your current employee benefits risks

Forecast modelling, assessment and control of risks plays a decisive role in a dynamic market. Experience actuaries and IVS-tested (Institute of Actuarial Experts in Pensions) experts from Funk support your company by continuously monitoring legal and actuarial changes, among other topics in reference to calculation/assessment of  your employee benefit obligation, partial retirement models, seniority benefits and working time accounts. The actuarial assessments and analyses required for this take place in accordance with national tax and commercial balance sheet regulation and international accounting principles. We also provide further actuarial services, including:

  • Mergers & Acquisitions due diligence
  • Calculation and verification of pension claims taking into account the stipulations under employment, tax and social security law and the related jurisdiction
  • Forecast calculations (e.g. development of pension liabilities and pension payments), vested entitlements and current benefit entitlements
  • Calculation of severance payments (§ 3 BetrAVG – German Employers’ Retirement Benefits Act) and indexation checks for company pensions (§ 16 BetrAVG) in terms of pension rights adjustments
  • Calculation of tax-permissible funding level of company support funds and contributions into partially funded and reinsured support funds
  • Creation of certificates for the Pension Assurance Association (PSVaG)

 

Reducing administration by outsourcing company pension administration

Due to the complexity of company pension schemes and the often organic changes to the pension structure as it grows, many companies find the process of administering their pension schemes non-transparent and very taxing. By outsourcing the administration of their pension schemes, companies can relieve themselves of a great amount of stress and improve their transparency and compliance. Funk sets up and guides the transition of document management into optimal process management in your company as part of an optimised outsourcing exercise with the following and more:

  • Harmonisation of processes with all client departments involved and with employee representatives
  • Harmonisation of processes with insurance companies and external partners
  • Creation of individual process and workflow descriptions
  • Definition of dates and responsibilities
  • Regular joint checking and updating of processes
  • Continuous quality assurance

 

Communicating benefits clearly – concepts for employee communication

In times of demographic change and the related competition for a skilled workforce, social and secondary benefits or attractive remuneration structure offered by the employer are of central importance when it comes to motivating and retaining employees.
We work with you to draw up a modern concept for optimal communication of your company benefits, offering the following customisable modules:

  • FuBIS software tool: our own online tool for central control and coordination of employee communication and information exchange
  • Audit and employee questionnaire: valuable data for estimating the value of the existing pension schemes, for determining specific requirements and evaluating the effect/perception of certain benefits
  • Funk benefit hotline: specific hotline for employee queries on existing schemes
  • Webinars: online presentations for informing/advising your employees
  • Roadshow: employee presentations on the new pension scheme at each large company site together with the works council, human resources department and Funk
  • Individual consultancy: Funk organises consulting days for your employees at your sites with one-on-one discussions for individual benefit advice
  • Employee brochure/welcome package/remuneration inserts: informational employee handouts that can be provided as needed, where the company pension and benefits scheme is clearly laid out

We provide you with tailored strategies for employee communication with the aim of building up employee awareness and appreciation of the benefits their employer offers and making your job as easy as possible.

 

International solutions – transparency and efficiency through international benefits

We work with clients who operate internationally to implement tailored benefit schemes that not only increase your appeal as an employer through international benefits but also provide significant added value in terms of transparency, cost reduction and risk minimisation. Our services for international clients include:

  • Benchmarking and assessment of existing benefits by means of an international benefit audit
  • Setup and active support for multinational pooling schemes
  • Implementation and follow-up of global benefits strategies and governance structures
  • Harmonisation and cost optimisation of the benefit programme for your foreign-based companies
  • Call for tenders and provision of international risk cover and benefit plans
  • Design of comprehensive expatriate schemes and insurance solutions for inpatriates
  • Coordination, verification and provision of local employee benefit plans via our global broker network Funk Alliance
  • Documentation of your global benefits in a modern software tool
  • Evaluation and auditing of third party administration (TPA) services
  • Special advice for intergovernmental and non-governmental organisations (IGOs/NGOs)

 
Our internationally experienced experts are your reliable partners as consultants and coordinators and can devise tailored solutions for your requirements.


 

 

 


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Christian Geisel
+49 89 544681-0
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