Building up a pension without group insurance
WHAT IS THE VAPW FOR WAGE EARNERS?
Through the VAPW, employees who do not build up a pension, or only have a limited supplementary pension through their employer can still build up a nice pension savings pot. This is necessary because the basics alone are not sufficient. The VAPW is a branch 21 or branch 23 insurance with which an extra pension is built up via deductions from the net wage.
This is done in a tax-friendly manner as the VAPW entitles you to a tax reduction of 30%. If you want to benefit from the maximum tax reduction and already have a mortgage, it is best to have a detailed calculation made by MDS Insurance.
A RETIREMENT SAVINGS PLAN TAILORED TO YOUR EMPLOYEES
that you get advice from an expert such as MDS Insurance.
You cap the VAPW with or without a fixed annual return, depending on the chosen formula.
It is also possible to add a benefit clause to the VAPW contract if you prefer to appoint a beneficiary other than your legal or testamentary heirs. As you will see, a good VAPW plan is tailor-made. For this reason, MDS Insurance opts for a personal approach.
THE VAPW IN PRACTICE
The free supplementary pension for employees is independent of the employer. After all, the contributions are deducted from your net salary. So you choose an insurer yourself and decide on the terms. Nevertheless, your employer is involved in the VAPW, because it acts as a conduit and deducts the payments from the net wage. The advantage of this is that you do not stick to a contract if you end up out of work because the VAPW stops when your employment contract stops.
At the moment, only a handful of VAPW providers are active on the market and the package is not yet well known. That is why MDS Insurance works together with employers in order to appeal to a larger group of wage earners. This makes it more accessible for the wage earners, while the employer simplifies administration.