What is complementary pension in SAP PY-FR - France?

SAP Term: complementary pension

• Component: PY-FR

• Component Name: France

• Description: Additional mandatory pension contribution to which the employee contributes in parallel to the statutory pension. It is to be distinguished from the supplementary pension which is voluntary.

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• Key Concepts: 
  Complementary pension is a type of retirement plan offered by SAP in France. It is a voluntary plan that allows employees to save for retirement on top of their regular pension plan. The funds are managed by an independent financial institution and the employee can choose how much to contribute and how to invest the funds. 
  
  How to use it: 
  In order to use the complementary pension plan, employees must first register with the financial institution that manages the funds. They will then be able to make contributions to the plan and choose how to invest their money. The contributions are tax-deductible and the funds can be withdrawn at any time. 
  
  Tips & Tricks: 
  It is important to remember that the funds in a complementary pension plan are not guaranteed and can fluctuate in value depending on the performance of the investments. It is also important to keep track of any changes in tax laws that may affect the contributions or withdrawals from the plan. 
  
  Related Information: 
  For more information about complementary pension plans, please visit SAP's website for PY-FR France. There you will find detailed information about how to register, make contributions, and manage your investments.