Are your minimum reserves fully funded?
In accordance with the Law on Complementary Pensions (LCP), the reserves that employers set aside for their staff members must satisfy certain minimum requirements. To ensure that you stay compliant with the LCP, AG Employee Benefits will soon let you know every month where you stand with regard to funding your minimum reserves.
For this purpose, we will be providing you with clear, detailed information in a new document, "Minimum Funding Status", Which will be sent out together with your premiums statements.
AG Insurance will soon let you know every month whether you have sufficient resources to satisfy the minimum reserve requirement or whether your plan is underfunded.
If there are insufficient resources, an additional premium will be charged via the usual payment notification to make up the difference.
All customers with Classical Life or Pension 4 Life plans at their company will receive prior notification that this new document will be included in their invoicing.
Interested in finding out more? Check our website.
Have additional questions or concerns about this new measure? Feel free to get in touch with your account management team or contact person at AG Employee Benefits.