Pension
Putting a little aside now to help your future lifestyle
Saving for your future has never been more important, putting a little aside now can really help. Membership of the SAP pension scheme is a tax-efficient way to do this.
When you join SAP, you’ll be automatically put into the SAP scheme. This is known as automatic enrolment and is a legal requirement for employers. Your automatic enrolment contribution rate is 4% of your basic salary. SAP pays 10% of your basic salary.
Key points:
- The earlier you start the more time your savings have to grow.
- If you pay in 6% or more of your basic salary, SAP will add 12% of your basic salary, bumping up the money going into your pension to 18% of your basic salary.
- The SAP pension scheme is a low cost, flexible group personal pension. This means that you’ll have your own pension policy within the SAP pension scheme. It’s in your name, you can make use of the scheme’s default investment strategy or select your investments from the range on offer, if you wish.
- Employees who are SAP Pension members can make an additional once-off AVC in March into their pension, the same month as bonus is received. The process helps employees to invest in their pension and future.
- The SAP Ireland Pension Scheme administrator is Aon Hewitt.
How to join
You can join the pension scheme from your first day of your employment.
If you have any questions about the pension scheme, please contact HR Direct.
Email: myfutureme@aon.ie
Phone: 0818 210 285
New joiners have one month to select this benefit.
At a glance
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Flexible benefit
- Changes can only be made during the annual enrolment window
Flexible benefit
You can sign up for flexible benefits at any point during the year. Be aware that you can’t always make changes to these benefits at any time during the year, so check on the conditions when you sign up.
Benefit budget allowance
You’re able to claim some benefits from a benefit budget allowance, paid for on behalf of SAP Ireland.
