Group insurance for employees - KBC Team Benefit Plan
Give your staff members financial peace of mind for retirement.
- Enjoy a nice tax break
- An interesting bonus for your staff members
- Remain an attractive employer in the war for talent
As a company manager, you want to keep your colleagues motivated. Should you raise their gross salaries? Maybe, but they will not receive the same amount after tax. The KBC Team Benefit Plan enables you to offer your employees a beneficial alternative. It is a simple way to organise a high quality supplementary pension policy for your employees. Not only that, but during their careers they benefit from additional security due to the supplementary insurance cover. Your employees keep twice as much as they would from a pay raise. And your benefit? You safeguard the future of your staff and your company.
Why choose the KBC Team Benefit Plan?
Tax benefits
For you as an employer
Just like salaries, the premiums you pay into the KBC Team Benefit Plan are tax deductible. Good to know: as an employer, your social security contribution on the premiums is just 8.86%. That equates to a difference of around 25% compared to the social security contributions payable on salaries.
For your employees
The group insurance premiums are also attractive for your employees as the tax-efficient arrangement means that they keep twice as much as they would from a pay rise.
Choose between two different formulas
There are now two formulas within the KBC Team Benefit Plan that are fully tailored to the needs of SME's. They offer a simple, high quality supplementary pension with the minimum administrative burden. The ideal choice to get started.
- Formula with a fixed amount: you pay a fixed amount per employee. This sum is indexed by 2% annually. As a result, the supplementary pension and benefit payments change in line with the length of life.
- Formula with an amount proportionate to pay: you provide your employees with a supplementary pension and minimum death benefit proportionate to their individual pay. Because of the indexation based on pay, the supplementary pension and benefit payments change in line with the length of life.
Transparency
What amount have you built up for each employee? What pension payments can they expect to receive on retirement? KBC keeps all your employees informed with an annual pension statement.
Flexibility
Your KBC insurance agent is on hand to respond to any new requirements as your SME grows and you hire new staff. They will work with you to find out how to optimise your KBC Team Benefit Plan.
Who is it for?
All of your employees are eligible. However, you can also restrict the group insurance to certain staff categories, such as senior management, managerial positions or the general workforce. And what budget is it for? That's up to you!
How much will you pay?
| Formula with a fixed amount |
From 600 euros per year with 2% annual indexation |
| Formula with an amount proportionate to pay | 3% of the hourly or monthly pay |
What do your employees get?
| Scheme with a fixed sum | Scheme with amount that depends on pay | |
| Build-up supplementary pension | ||
| Premium waiver in the event of work disability | ||
| Benefit paid in the case of early death | From 15,000 euros per year with 2% annual indexation | From x the annual pay |
| Income supplements: guaranteed income | optional | |
| KBC Group Hospitalisation Insurance | optional | optional |
Extra cover
Death cover and premium waiver in the event of temporary or permanent work disability
If you opt for the formula with an amount proportionate to pay, you can also opt to have KBC cover your employee's loss of income by topping up the allowance they receive from the NIHDI to increase it to 80% of their gross taxable income. For this option, you pay a premium on top of the base premium..
Income supplements (guaranteed income)
Is your employee unable to work? If so, you do not have to pay a premium for their pension plan. KBC takes care of this for you. The result: Your employee's ongoing pension contributions are safeguarded, and the employee also retains their life insurance cover.
Taking care of yourself and your staff
Good health is a sound basis for all. And if things aren't going so well, it is a benefit for each employee that their employer has already considered the financial consequences of a hospitalisation. With the extensive cover under KBC Group Hospitalisation Insurance, you give yourself and your staff a rewarding solution. What's more, the premiums are exempt from social security contributions and as such form a worthy alternative to a salary increase.