Many employees assume that a job includes a pension scheme. By offering a collective scheme, you signal that your company is socially responsible and takes care of its employees – both during their employment and in retirement. You will also be in a strong position in relation to attracting and retaining skilled employees.
A company pension scheme is cheaper than if you set up individual schemes. The saved expenses can be placed directly in your employees’ savings – so that they have more money in retirement. A company pension scheme also includes a number of insurance covers that guarantee both the individual employee and you as company executive in case of illness or death.
The company pension scheme can also help you retain employees if they fall ill and help employees who are ill return to work more quickly, as insurance benefits may be paid out to the employer as long as the employee gets his/her full salary. This will give you the opportunity to hire a temporary replacement.