Arranging a pension for your employees? Discover how easy that is.

Many employers would like to arrange a pension for their employees, but keep putting it off. The most frequently mentioned reason for this is: it is too complicated and takes up too much of my time to figure everything out. But is that really the case? To give you an idea of how easy it can be, we are going to lift the veil and show you how the onboarding process at Vive works. 

Step 1: Contact us

This may well be the hardest step, because of, apprehension… But we are making it as easy as possible for you. So… take a deep breath and take that step! Schedule an appointment here with us. Choose a day and time that suits you, fill in your name, email address and the number of employees you have. As soon as you have scheduled the appointment, we will send you an invitation for a video call. During the call, we will explain everything about arranging a pension for your employees through Vive. 

Step 2: We send a collaboration agreement

If you are so enthusiastic after the conversation that you decide to arrange a pension for your employees through Vive, we will send you a collaboration agreement. This agreement contains all the terms and conditions and the agreements we will adhere to. You can sign the contract digitally. Once this is done, we will send you an invoice for the costs of the onboarding and the annual subscription fee that we charge for our services. 

Step 3: Decide how much you want to contribute for each employee

You decide entirely for yourself how much you contribute for each employee. You can make it relative, so you might think of 1%, 5%, or 10%? Or perhaps you would prefer a fixed amount? Whatever the amount, we will total the amount and you can transfer this to us every month via a direct debit. So you do not have to bother with transferring different amounts to different accounts. Our system handles the distribution to your employees’ accounts. Should you want to make adjustments. Simply contact us. Then we will arrange it for you straight away. 

Step 4: Provide your employees’ contact details

To create accounts in our app (for pension), we need the contact details of your employees (and perhaps yourself). This is standard and nothing complex. We need your employees' first name, last name, email address, mobile phone number, and date of birth so that we can personally invite them all to download the Vive app. Then, each employee enrols themselves via the app. There, they can then create a pension plan. Your work is now done. The employee does the rest themselves.

What your employees need to do when they have downloaded the app

When your employees start with the app, we ask them a few questions. We want to know their age, the age at which they want to retire (if this is earlier or later than the eligible retirement age) and how much they want to contribute themselves per month. They are in control of this. 

To verify your employees’ identity, we ask them to use the camera on their phone to scan their passport or ID card. This is part of the KYC process (more about this later in the blog). They then also take a selfie so that we can check this against the scan of their identity document. And finally, they also digitally sign a contract themselves.

After that, their plan is completely ready and they can start investing for their pension. Based on the individual situation (time until retirement, employee contribution, employer contribution, all economic scenarios, et cetera), we calculate for them the minimum, maximum, and average return they can expect. 

The KYC process

Now you know all the steps you and your employees take to arrange a pension. Like every financial service provider, we are obliged to screen all our clients. This is called Know Your Customer (KYC). For your employees, we perform this screening with the scan of the identity document and their selfie. 

We also have to screen your company itself. For this, we check your company structure in the UBO register. We then also check whether your company is not on a sanctions list and we check whether no political persons are connected to your company. It is difficult for us, for example, if you are the nephew of a dictator. 

If all this is fine, you can start arranging a pension for your employees right away. The compliance checks take place in the background and generally do not affect the process of setting up a pension for your employees, unless there are special circumstances. On average, this whole process takes two weeks.

What does arranging a pension with Vive cost?

Well, hold on to your hat, because you probably have never seen this before. After the one-off implementation fee (setting up the app, KYC, CDD) of € 45 per employee, the pension for your employees costs you only € 6.25 per employee per month. How can we keep these costs so low? This is because we use technologies that most traditional pension funds have never embraced. And instead of putting that difference in our pockets, we prefer to keep the pension affordable for everyone. That makes us feel good and gives you a great, affordable, and better pension. 

When will you take that first step to arrange your employees’ pension?

Hopefully, it is now clear to you that arranging a pension for your employees does not have to be complicated or time-consuming. At Vive, we make the process simple, transparent, and affordable, so that as an employer, you can offer your employees a valuable secondary employment benefit without a lot of administrative burdens. From the first contact to the completion of the compliance checks, everything is focused on convenience and efficiency. With just a few steps, you can set up a pension for your employees and give them control over their own financial future.

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