Here is what a customer had to say
“We provide a monthly pension contribution on top of the salary. However, we notice that for employees, it just feels like extra cash in their account.
It gets spent on groceries, a weekend getaway, or a round of drinks at the pub. We’re thinking about their retirement, while they’re thinking about what they can spend it on today.”
Vive solves this. Every month, your contribution goes directly into a pension account in your employee's name. It is tax-advantaged within the annual margin.
Your employee can see what they are building up and what you are contributing in the app. You can see who is participating in the dashboard.
You can be up and running in one week, without the hassle of a complex collective pension scheme.
Frequently Asked Questions
These are the most frequently asked questions we receive about arranging pensions for your employees.
Do I pay any additional costs on top of the pension contribution as an employer?
Yes. In this calculator, we add 17.13% in employer costs to the employer contribution on the premium-liable portion. With an employer contribution of €2,066 that amounts to €354.
In addition, Vive charges €7.50 per employee per month and a one-time fee of €45 per employee for onboarding. View the current rates and cost breakdown. The exact processing may depend on the chosen payroll structure; please coordinate this with your payroll administrator or advisor. On the page about pension for employees you can read more about the possible setup.
This is how we calculate your employer pension costs
How are the total pension costs for 10 employees calculated?
We start with the pensionable salary. We subtract the state pension offset (AOW-franchise) of €19,172 from the salary. This results in a pensionable salary of €25,828.
With an employer contribution of 8%, the gross contribution is €2,066 per employee per year. On top of that, you pay 17.13% in employer charges on the premium-eligible portion, which amounts to €354. The effective surcharge on the pension contribution is therefore 17.1%.
For 10 employees, Vive's service fees are added: €7.50 per employee per month × 12 × 10 = €900 per year.
At the start, you also pay a one-time fee of 10 × €45 = €450 in onboarding costs.
All in all, the total costs for the first year come to €25,552.
Are there any hidden costs?
No. What you pay is:
- The monthly subscription and one-off start-up costs, only on the pension plans.
- The management fee on your invested capital.
- The fund costs, which go to the underlying funds and not to Vive.
What there isn't: transaction costs, deposit fees, withdrawal fees, advisory fees or performance fees. One nuance: on large inflows or outflows a fund may apply swing pricing, which can work out favourably or unfavourably. All current amounts are on the pricing page.
What are the costs of Vive for my business?
For an employer scheme you pay a monthly subscription per participant and one-off start-up costs. You decide whom you sponsor, so your costs scale with the number of participants.
The management fee on invested capital is paid by the participant. In consultation with your payroll administration the costs can be handled within the WKR. There are no implementation fees and no multi-year contract. See current amounts on the pricing page.