Contract of Collective Participation

Contract of Collective Participation

A contact concluded between the employer and SEB pensiju fonds for making contributions to the pension fund on behalf of the employees in accordance with the objective criteria established by the employer for selecting the employees.

The employer must:

• Form a pension plan committee which will control the management of the given pension plan and its compliance to the contract;
• Establish objective criteria for the selection of pension plan participants, on whose behalf the pension fund contributions will be made (e.g. length of service, position, etc.)
• The employer may not be in tax arrears for previous periods.

Conclusion of the Collective Participation Contract:

• Representatives of SEB pensiju fonds in coordination with the employer agree to and sign the Collective Participation Contract;
• The employer registers with SEB pensiju fonds all the employees on whose behalf contributions will be made to the pension fund - the format for the exchange of data will be provided by SEB pensiju fonds;
• After registering the employees, the employer makes one periodic payment for all of his employees in the amount of the total pension contribution. At the same time he sends to SEB pensiju fonds information about the allocation of the contribution among the employees;
• The exchange of data with SEB pensiju fonds takes place by e-mail