Did you know that you can manage ITP 1 as a book reserve method pension? As with ITP 2, credit insurance is required.
ITP 1 book reserve method pensions have advantages
One advantage is that the company keeps the money in the business. The company itself determines what it does with the unrestricted capital which would otherwise be tied up in pension premiums. For example, the money can be invested in a pension foundation or constitute a basis for investments. In other words, the company can convert a pension cost into an investment. Book reserve method pensions can also make the company a more attractive employer.
ITP 1 book reserve method pensions also make possible the creation of a unique pension plan which can even be offered to employees who are covered by SAF-LO collectively agreed occupational pensions.
A plan for both the needs of the company and the employees
Through an ITP 1 book reserve method pension, your company can design a plan that harmonises the needs of the company and those of the individuals. A company’s own plan is also an excellent way to share the risk between the company and employee. The link between work performed and pension benefits is clarified.
The company can also pay for administration and asset management fees, which results in a higher pension for the employee.
We can help your company with the regulatory framework related to the plan. Thereafter, we manage the plan according to the agreed rules.