Translation of "Entgeltumwandlung" in English

The premiums are paid in the form of deferred compensation.

Payroll-based contributions by employees in Germany are invested in fund units.

Individual questions currently exist on the new regulations governing deferred compensation which still require clarification.

Under the collective agreement on the conversion, for local civil servants, of earnings into pension savings, the pension services in question are reserved to three specific groups of service providers, which exclude a large number of insurance companies from the market.

A collective agreement concluded in 2003 between the Association of Municipal Employers (Vereinigung kommunaler Arbeitgeberverbände, VKA) and the trade union (ver.di – Vereinigte Dienstleistungsgewerkschaft e.V.) states that salary conversion has to be provided by the municipal employers either through public supplementary pension providers (öffentliche Zusatzversorgungseinrichtungen), or by using members of the Sparkassen-Finanzgruppe (group of savings banks) or municipal insurance companies (Kommunalversicherer).

Since the three-year waiting period for the contractual vesting was not reached, the pension agreement provides only for entitlements that Dr. Gunnar Wiedenfels obtained from deferred compensation.

This former employee claimed that he had not been informed by his employer about the possibility of converting his earnings into pension contributions and had therefore not acquired any claims from the company pension scheme.

Moreover, on the basis of statutory deferred compensation, employee contributions are also possible, to which Bosch adds an extra 10 percent, subject to the contribution assessment ceiling.

Thirdly, the pension due under the statutory pension scheme could be lower than without deferred compensation because this reduces the contributions made to the statutory pension scheme.

In order to be able maintain the accustomed standard of living into retirement, we offer our employees deferred compensation for the company pension plan with contributions.

Since the three-year waiting period for the contractual vesting has not been reached, the pension agreement provides only for entitlements that Dr. Gunnar Wiedenfels obtained from deferred compensation.

According to the prevailing opinion, the employer only has to pay the contribution in the amount it also actually saves in social insurance contributions through the deferred compensation.

Where an employee exchanges (cash) wages for some other form of benefit, this is generally referred to as a 'salary sacrifice' arrangement and is fairly unusual.

Each member of the Executive Board has the right to pay any additional amount into the pension account in the context of deferred compensation.

Whether you wish to implement your employees' right to deferred contributions or make your own retirement benefit arrangements, the experts atSwiss Life offer professional advice and customised solutions for your company.

An employee-funded company pension scheme in the context of a pension fund and direct insurance is also possible via various insurance companies (deferred compensation), for example via Metallrente.

Our employeesâ€TM private pension provision is also important to us: By way of deferred compensation we support employee-financed pension provision.

Additionally, MR subsidizes a private pension plan with deferred compensation which can be completed as direct insurance, pension, and relief funds.

Employees can choose from different pension scheme models, such as direct insurance, "Riester" pensions and/or deferred compensation - and even combine these.