Employers in the Netherlands should anticipate requests and inquiries regarding pensions. Setting up a pension plan for employees is a procedure that many multinational corporations find to be rather challenging. In order to assist you with the project’s preparation stage, we would like to draw your attention to a few topics.
Step 1: Verify your collective labor agreement (CLA), or CAO (in Dutch) if applicable. The CAO or CLA a collective labor agreement that outlines specific employment terms. It’s probable that there is a contract that must be followed in your industry. The document will specify if you are required to give a specific kind of pension, as we have previously listed. You might also look it up here if you’re interested in finding out more about it but aren’t yet in the Netherlands (in Dutch).
Step 2: You must understand your employees’ demographics in order to choose the collective pension that is best for your company. Your employees’ attitudes toward retirement may be revealed by their age, gender, way of life, and even nationality. Employees who are married and have families, for instance, might prefer a pension plan that allows them to include their spouse or kids in the plan. Workers with non-European nationalities also frequently encounter difficulties transferring their pension to their home country. You might need to take into account a pension plan that is more flexible than what is typically offered if your company employs expats.
Step 3: Pensions could be an instrument for luring and keeping talent. Employers should constantly consider new strategies to motivate staff members and maintain a competitive edge in the labor market. Check out what rivals are providing their employees in the branch market for the sector pension. By setting a higher bar for employee salary, you’ll probably be better able to draw in top talent and keep your current workforce.