The Bank announces the establishment of the Occupational Insurance Fund of the Eurobank Group, seeking to support, in the long run, its employees with another social responsibility initiative that promotes strong ESG standards.
The activation of TEA, constitutes a modern framework of professional insurance, optional participation, for all the staff of the Group that is employed with contracts of indefinite duration. As a Legal Entity under Private Law, established following a written agreement between employees and the employer, it operates in parallel and in addition to the public pension system. Provides long-term savings and significant coverage to employees who ensure that a respectable amount is accumulated at the end of their term, improving their standard of living in a moment – a milestone in their lives. Eurobank is one of the employers that have decided to contribute to the well-being of their employees with the establishment of TEA. An initiative that creates a strong social footprint through employee support and develops in a supervisory and regulatory framework that ensures trust and transparency.
Ms Natassa Paschali“The Eurobank Group’s TEA is now here. It is a very important step in improving the living standards of our employees, to whom we are committed to always offering the best and, hopefully, other Organizations as well,” said Eurobank Group CEO. Through the new Fund, employees will continue to enjoy the full level of benefits, but now with additional benefits and opportunities. we are always ahead for our people. ”
The new Fund is governed by a strong legal framework and robust approval procedures ensuring transparent and sound governance in the Eurobank Group’s high standardsproviding significant and multiple benefits:
– Strengthening retirement income enabling members to save long-term and effectively with professional management of their investments. An opportunity that helps to cultivate the culture of saving, even at the youngest ages of employees.
– Significant tax incentivessince voluntary contributions (regular and extraordinary) are tax deductible by 100%, and reduce the taxable income of the member, according to the current tax regime.
– By registering with TEA, the Eurobank Group automatically pays a percentage of its salary to the member’s pension account, without requiring voluntary contributions from the employee.
– Employees – members of TEA will have immediate access and full information of their personal investment portion at any timethrough the website of TEA using their personal code, while the operating costs of the Fund will be covered exclusively by the Eurobank Group.
The Fund will make full disclosure of financial statements, actuarial feasibility studies and investment policies and instruments, so that its members are informed in full transparency.
For more information you can visit the website of the Occupational Insurance Fund of the Eurobank Group
Source: Capital
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