Pension and insurance
Pension and Insurance
This policy applies to all Regent employees. The purpose of this pension policy is to give employees freedom of choice regarding the design of their pension solution, while at the same time keeping the administrative management of pensions simple and cost-effective.
This pension policy has therefore been developed to create uniformity regarding occupational pensions, group insurance and other service-related insurance solutions that Regent offers its employees.
In addition to the pension benefits regulated in this policy, the employee is entitled to the benefits that are added in accordance with the General Insurance Act or its future equivalent.
Regent is not covered by the ITP plan or other collectively agreed occupational pension plan.
Extent
Adherence to this pension policy takes place as follows:
Permanent or probationary employees are connected from the month they are employed.
In the event of connection or termination during days 1–15 of the month, registration takes place on the 1st of the same month. During days 16–31, registration takes place on the 1st of the following month.
Pension provider and administration
Regent always hires the provider of pension solutions that Regent finds most suitable. Regent has currently chosen to hire Avanza as a supplier for Regent’s occupational pension solution.
Regent’s pension plan
Pensionable income
Pensionable salary is calculated according to a fixed monthly salary multiplied by 12, or alternatively calculation-based income for those with a variable salary. However, no additional commission, bonus, overtime pay, allowances, travel allowance, car benefit or compensation to cover expenses for a private car in the service are pensionable. Premium adjustment is made annually in connection with each salary change.
Compensation in the event of illness
In the event of illness, compensation is paid as follows. In brackets, total remuneration as a percentage of salary during the respective time period is stated.
| Day 1 | Withholding tax deduction – 20% of sick pay during an average working week. | |
| Day 2 – 14 | Regent pays sick pay according to law with 80% of the entire salary including bonus. | (80%) |
| Day 15 – 90 | Försäkringskassan reimburses 77.6% of salary up to 7.5 price base amounts. | (78%) |
| Day 91 – 360 | Försäkringskassan reimburses 77.6% of salary up to 7.5 price base amounts.Compensation is added from health insurance taken out by Regent and described in the health insurance section below. | (about 78%) |
| Day 360 – sickness benefit | Försäkringskassan reimburses 72.75% of the salary up to 7.5 price base amounts for a maximum of 550 days.Compensation is added from health insurance taken out by Regent and described in the health insurance section below . | (about 78%) |
| In case of sickness or activity compensation | If the ability to work is permanently reduced by at least 25%, sickness benefit or activity compensation is paid (if you are younger than 30 years).The size of the benefit is 64% of an assumed income based on the pensionable income (maximum 7.5 price base amount) a number of years before the illness. Compensation is added from health insurance taken out by Regent and described in the health insurance section below. | (about 75%) |
Health insurance
From day 91, sickness pension is paid from a health insurance policy taken out by Regent in Euro Accident (Avanza’s partner for risk insurance). The compensation is paid until the employee is healthy again, but no later than the 67th birthday. The outcome of the health insurance is indexed every year to compensate for inflation in society, as well as any non-payment of wages. The size of the compensation corresponds to the respective insurance company at each time, according to the terms applicable, ITP health insurance, which pays compensation as follows:
| Salary in basic amount | Sick pension day 91-360 | Sick pension from day 361 | Sickness or activity compensation |
| 0.0 pbb – 7.5pbb | 10% | 0% | 15% |
| 7.5 pbb – 20 ibb | 65% | 65% | 65% |
| 20 ibb – 30 ibb | 32.5% | 32.5% | 32.5% |
In cases where health insurance is not granted by a selected insurance company, there is no obligation on the part of Regent to pay sickness compensation. In cases where insurance is granted against increased premiums, the premium increase is paid by Regent.
The health insurance also includes a free support service ( Call support ).
Conversation support is available when employees have problems that can affect their ability to work or public health – regardless of whether the problems are private or work-related. For managers, there is also special support in the managerial role. Employees and managers receive help regardless of whether it is stress, relationship problems, mental problems such as anxiety and depression, conflicts at work, alcohol and drug abuse, gambling addiction, legal, financial or lifestyle-related issues.
The conversations take place under full confidentiality with the employer. Telephone number for advice 0771-10 50 15.
The health insurance also includes a rehabilitation insurance ( ComeBack). The rehabilitation insurance ComeBack is adapted to the Swedish Social Insurance Agency’s rehabilitation chain and ensures that the employer receives help in fulfilling its responsibilities. The insurance is already taken out in the event of a risk of long-term sick leave, in the event of repeated short-term absence or in the event of estimated sick leave for a longer period. Rehabilitation coordinator after registration for Euro Accident, no later than day 20 or when there is a risk of long-term sick leave, a professional rehab leader is active throughout the process. Employers and employees receive help with investigation, planning, coordination, advice, goals and follow-up, measures and contacts and all documentation. The rehabilitator’s focus is forward-looking and to utilize the employee’s abilities in close interaction with the employer.
Pension provision
Regent pays a monthly pension premium calculated in accordance with the premium plan below for occupational pension insurance.
| Pension-bearing amounts are shares in price base amounts | |||
| Age | 0 – 7.5 | 7.5 – 20 | 20 – 30 |
| 20-27 | 4% | 10% | 6% |
| 28-39 | 4% | 12% | 6% |
| 40-49 | 5% | 15% | 8% |
| 50-65 | 6% | 18% | 10% |
The pension plan is defined in nature, meaning that Regent’s only obligation is to pay a premium according to the above premium plan.
The premium for health insurance according to the health insurance section above is outside the premium limit. Premium exemption in the event of long-term illness is mandatory, provided that it is granted on normal grounds by the chosen insurance company.
Premium exemption insurance
The premium exemption insurance is a security insurance for the Company which means that if the employee is ill for more than 90 days, the insurance goes in and pays the pension premium for the employee .
Insurance company
The occupational pension shall be invested with the Avanza Pension currently provided by Regent, the insurer specified at each time.
The employee can choose between different forms of savings via Avanza. The employee can invest his insurance capital in funds as well as Swedish and foreign shares and other securities.
The default entrance solution is Avanza 75 – read more at www.avanza.se
Forms of administration
Regent offers its employees a form of management called “custodian insurance”, which means that the employee can invest in both funds and shares.
The employee is thus responsible for the financial risk in the investment.
Repayment protection
Repayment protection means that the accumulated pension capital is paid out to survivors in the event of the insured’s death. Beneficiaries are, in the order mentioned, spouse / registered partner, cohabitant or child. The repayment protection can be opted out by the employee.
Retirement age
The ordinary retirement age is 65 years with the right for the employee to choose another payment age and payment period within the framework specified by the Income Tax Act.
Health examination
In connection with the insurances and in the event of a salary increase, it is normally sufficient for the Regent to certify that the employee is fully fit for work in order for insurance to be granted by the chosen insurance company. In some cases, however, insurers may require each employee to submit an individual health declaration before insurance is granted. In the event of any restrictions or rejections, the company must connect the current employee to a pension solution with current restrictions or alternatively to a pension solution that only contains savings. Regent is not obliged to compensate the employee in any way in the event of restrictions, increases or refusals for unsecured risk insurance.
Service group life (TGL)
Regent has signed Service Group Life (TGL) for all employees in the insurance company AFA.
To be covered by TGL, the salaried employee must have reached the age of 18 but not 70 and work at least 8 hours on average per week. For those who work between 8 and 16 hours, TGL applies with half the insurance amount.
TGL is a life insurance that expires with a lump sum of 6 price base amounts at the death of the insured. The compensation is reduced from the insured’s 55th birthday.
Beneficiaries are, in the order mentioned, spouse / registered partner / cohabitant or children.
For each child under the age of 18, 2 price base amounts are also paid.
Safety insurance in the event of an occupational injury (TFA)
The insurance is taken out through AFA and applies to all employees. TFA applies, among other things, to damages caused by:
- Accidents at work.
- Occupational disease lasting more than 90 days
- Road accidents, ie injuries that have occurred on the way to or from work.
Health insurance
All employees are also covered by health insurance via Euro Accident, which provides the opportunity for faster healthcare. The insurance is mandatory for all employees. The health insurance PrivatAccess provides quick and easy access to private specialist care to reduce waiting times in order to shorten sick leave. PrivatAccess care guarantee provides access to private specialist care within seven working days and surgery within 14 working days. Euro Accident guarantees high quality care.
Telephone number for health insurance is 0771-10 50 15. A deductible of SEK 500 per claim is added.
The health insurance includes E-care, a digital doctor for simple ailments.
Spouse, cohabitant and children can be connected to health insurance against salary deductions.
Business travel insurance
Business travel insurance is not something that is taken out by default for all employees as the number of business trips is very limited. Contact your nearest manager if business travel becomes relevant and this insurance can be taken out separately.
Leave of absence
In the event of other leave of absence longer than one month, the occupational pension, health insurance, health insurance and possibly salary change insurance.
Parental leave
During parental leave, Regent maintains the pension insurance for 12 months, after which the employee is deregistered from pension. Health insurance is maintained throughout the parental leave. If the salary change is taken out, the salary change insurance will be terminated during the parental leave due to there is no salary to deduct.
Transfer of insurance
If the employment ends, the employee has the right to transfer all his occupational pension insurance, as far as possible, to a new employer or to himself.
Salary change (gross salary waiver)
In addition to the pension provision as above, the employee can choose to increase their pension savings by waiving part of their gross salary, so-called salary change.
It is only advantageous to change salaries for those who have a salary above 8.07 income base amount (IBB). That is, the employee must keep SEK 8.07 IBB in the salary envelope after the salary change has been completed.
When changing salaries, cost neutrality is sought for both the employee and the Company, which means that the ratio between social security contributions and special payroll tax is always the same. The difference goes to the employee’s pension provision.
(For 2019: 5.8%. 1.3142 / 1.2426 = 1.0576) rounded 6%.
The premiums for occupational pension and health insurance that the employer must pay due to a salary change may not exceed the amount for which the Regent may receive a tax deduction right in accordance with the tax rules in force at any given time. At present, such premiums are, as a general rule, deductible with an amount corresponding to 35% of salary per year, but not more than ten price base amounts. When calculating the deduction space, all premiums for occupational pension and health insurance, including ordinary benefits that the employer pays for the employee, must be taken into account.
Other conditions
The policy applies based on the conditions that apply regarding laws and tax systems. To the extent that changes occur, the policy follows these to a corresponding extent. In other respects, the Regent has the right to change the pension plan if necessary, whereby the employees concerned must be notified immediately.
This policy has been approved by CEO Thomas Skott 2019-02-26