A member of the fund can be any domestic or foreign person, employed, unemployed, person with occasional or temporary income. An individual can make payments for a spouse, child or other person, so there are cases when a newborn baby is a beneficiary of the fund.
“Savings in private pension funds are primarily a matter of personal responsibility on the one hand, ie the readiness of the employer to invest in its employees on the other hand. There is no lower age limit for joining the fund, so it is not uncommon for parents to start saving for their children immediately after their birth. ”
Everyone can calculate the optimal payment on a monthly or annual basis in order to achieve the desired amount of private pension, taking into account their own age, ie the time in which they want to invest, as well as the return that the private pension fund can achieve in the future. Of course, the real possibilities of each individual to make a payment into their private pension fund also play a significant role. ”
If a fund member ceases to pay contributions at any time, his membership does not cease, payments will not be lost, his individual account will not be closed, and the Management Company continues to invest money. The total net return realized by investing funds is attributed to the members of the fund and thus the amount of their funds is increased.
After fulfilling the age condition, a member of the fund can dispose of his accumulated funds. A member of the fund who ceases to pay contributions may not be sued on the basis of termination of payment of contributions. Also, a member of the fund may at any time, after the interruption, continue to make payments to the fund, regardless of whether the funds are paid by the member of the fund personally or by the employer.
Contributions to a private pension fund can also be paid by the employer.
In order to stimulate investment in private pension funds, the state has determined a non-taxable monthly amount that each employer can pay to its employee in a private pension fund.
“Numerous employers use this opportunity to additionally stimulate their employees and pay the stated non-taxable amount from their own funds to a private pension fund for their employees.