JSC “MOESK” has introduced the new Regulations on Non-State Pension Coverage of the Company Employees since 1 April 2011 (order #199 dated 01 April 2011).
The Regulations have been developed according to the Program of Non-State Pension Coverage of the Company Employees approved by the Board of Directors of JSC “MOESK”. The document determines the conditions and order of arrangement of non-state pension coverage (NPC). Its purpose is to increase social security of employees and improve their financial position when retiring. In particular, one of the tasks is creation of the conditions for the Company employees, which provide for achievement of the minimal amount of the pension equal to at least 30% of the lost earnings taking into account the labor pension.
The following pension plans have been developed for various groups of employees: Parity, Corporate and Individual ones. The Parity Plan is financed under the conditions of individual share of the Company and the employee. The “Supporting”, “Professional”, “Manager” and “Veteran” programs are effective within the framework of the Corporate Plan. The Individual Plan means full financing by MOESK employee and consists of two programs: “Reliable Tomorrow” and “Family”.
The more detailed information on each of the NPC plans is available in the nearest release of the corporate newspaper “Vesti MOESK”, and will be published at the beginning of May 2011.