Intermediary for pension and income insurances
Pension insurance
In the Netherlands, employers must engage an insurance intermediary if they want to take out a pension product. KWPS is certified for this purpose, is completely independent of providers, and never receives commissions. Our priority is the client's interest. We first investigate which arrangement is suitable for employee benefits and then look for an appropriate insurance product. We consider not only commercial providers; voluntary affiliation with an industry-wide pension fund or a general pension fund is also possible.
Absence and income insurance
KWPS can also advise on the following topics, request quotes, and implement insurance with the chosen provider:
- Disability benefits for employees
- Absence insurance, where the insurer takes over the employer's wage payment obligation for the first 104 weeks of illness. Between 70% and 100% of the employee's salary can be insured, optionally including compensation for employer costs such as pension, employee insurance premiums, or reintegration costs.
Illness can ultimately result in disability. In principle, the employer may terminate the employment relationship with a sick employee after two years. The employee then relies on a disability benefit paid by the UWV (Employee Insurance Agency). This benefit can lead to a substantial income reduction. Various disability insurance products can partially offset this reduction for or by the employee. These insurance products are known as WGA Gap Insurance, WIA Excess Insurance, and WIA Fixed Supplement Insurance.
Own risk bearer for sickness benefits act and partially disabled persons act
Employers who are publicly insured for the Sickness Benefits Act (ZW) and the Work Resumption for Partially Disabled Persons Act (WGA) pay premiums via the Tax Administration, and in return, the UWV pays the statutory ZW and WGA benefits and handles the reintegration of the disabled employee. If the inflow into the ZW or WGA within an organization is low, exiting the public system can be financially attractive. The company then becomes an own risk bearer for the WGA and ZW and takes on the reintegration obligations as well as the payment of the WGA and ZW benefits for the first ten years. These obligations can be placed with an insurer who may charge a lower premium. Additionally, the insurer often offers better reintegration opportunities for employees than the UWV, potentially leading to earlier recovery.
Contacts:
Natasja Winter and Dirk de Wit