Summer jobs

Here you will find answers to several important questions important for you to keep in mind.

 

  • Do I need to apply for additional pension savings?

    Yes. You need to apply and sign an agreement with a depositary for additional pension savings.
    If you change jobs, it is important to contact the depositary for additional pension savings and make a new agreement.

     

     

  • What is additional pension saving?

    In addition to obligatory premiums, you can choose to pay 2% or 4% of your total wages into additional pension savings. The wage payer makes a matching contribution, usually an additional 2%, that is a direct pay raise.
    Everyone should utilise this advantageous savings option, particularly young people. They can use their accumulated additional pension savings to buy their first apartment.

     

     

  • What are the functions of pension funds?

    Pension funds receive fund members’ premiums, accumulate interest on them, and pay pensions.

    Premiums deposited in a pension fund grant rights to a pension. They also provide insurance against loss due to trauma – for example, disability pensions and pensions for spouses or children.

     

  • Can I select a pension fund?

    Yes. In some instances, you can choose a pension fund. This will depend on which agreements and/or special laws apply.

     

  • Must I pay into a pension fund?

    Yes. Everyone aged 16 – 70 must pay part of their wages into a pension fund.