Business News
Axel Springer invests in employees
Wednesday 03. June 2009 - Central company agreement on the company pension plan is signed again with 6 percent interest guaranteed for the next three years
The Central Works Council and Management Board of Axel Springer AG have reached agreement on a continuation of the central company agreement on the company pension plan. For five years now employees have been able to participate in an employee-financed company pension plan, the VarioPension. The new version of the voluntary central company agreement which has now been signed replaces the previous central company agreement and is valid for a further period of five years.
With interest of six percent on the contributions for the next three years and the granting of an interest-free annual subsidy amounting to EUR 120 from the company, the Axel Springer VarioPension is a particularly attractive company pension plan. The scope of this regulation has additionally been extended to include companies that were transformed into legally dependent affiliates since 1 January 2007. Training and periods of employment prior to permanent employment are also taken into consideration.
“By continuing with the voluntary central company agreement on the VarioPension, we are making an important contribution to the company pension scheme, in particular through the retention of the attractive interest rate of six percent for the next three years,” said Alexander Schmid-Lossberg, Head of Personnel at Axel Springer AG. “Whether through profit sharing, the employee share program or the company pension plan: Axel Springer is investing in its employees, even during difficult economic times.”
Petra Pulver, the chair of the Central Works Council, also was satisfied with the result of the negotiations: “The Axel Springer VarioPension is one of the most attractive company pension plans in Germany as far as we are aware, and thereby certainly also represents a competitive advantage for the company. It is an important cornerstone of operational social benefits and represents a real step towards the Management Boards declared goal – of becoming Europes most employee-friendly media company.”