For the employer's contributions for the Third Pillar Pension plans which do not exceed 10% of the employee's gross annual income there is tax relief:
- The employers' social security contributions are not charged (24.09%).
- The employee's social security contributions are not charged (11%).
- The employer's contributions are imposed upon Personal Income Tax only upon receipt of funds.
- Company taxable income (15%) is reduced.
Nordea experts will help to calculate the potential savings and establish an effective reward system, so both the company and the employees are winners.