Contact us

(+357) 99531119

Send us an email!

Contact details:


Your message has been sent successfully. Close this notice.

Get a quotation Now

Contact Details

Your Quote Form has been sent successfully. Close this notice.
4 years ago · by · Comments Off on The Occupational Pension Plan and why it matters .

The Occupational Pension Plan and why it matters .

We have all heard of that old adage that goes “look after the pennies and the pounds will look after themselves”. The meaning behind it is that, if you start saving small amounts of money, then you will manage to accumulate a significant amount over time. This holds true for putting money in a piggy bank – when it fills up and you break it, you will be holding in your hands a lump sum. What you get is what you’ve put in. On the other hand, if you decide to put that same money in a professional investment plan, such as an Occupational Pension Plan, then it is likely that you will get all the pennies that you’ve put in, and then some, a by-product of the investment mechanism of said plan.

We spend most of our adult lives trying to make a living. We work and earn wages and provide for our families on a day-to-day basis. Do we handle our hard-earned money wisely, though? Do we put aside a certain amount each month so as to build up a nest egg that will come in handy in the future? We most certainly should, as a nest egg is what makes our years past the retirement mark golden.

Saving up for the future is very important, and such can be done voluntarily or through the organization that one works for, assuming that the latter has provided for such a savings’ infrastructure. This is where Eurolife’s Occupational Pension Plan (“EOPP”) comes into play and enables the formation of such a nest egg to become a reality.

By opting to go with EOPP, the organization puts in place a savings scheme through which both the employer and the employee can contribute a certain amount of money in the latter’s dedicated account. As the employee’s contribution will also be tax-deductible up to the amount that, together with other tax-allowable contributions such as Social Insurances, forms one sixth (1/6) of the gross annual income earned (before income tax but after any tax-allowable deductions, such as verified donations, professional subscriptions and the sort), the benefits are actually more than meet the eye.

As Warren Buffett famously said, “risk comes from not knowing what you are doing”. With EOPP, all the contributions that flow into employees’ accounts are invested through highly-knowledgeable and world-renowned investment experts, such as Goldman Sachs, J.P. Morgan, UBS and BlackRock, to name a few. And if this wasn’t enough, the employee gets to choose between a “hands on” and “hands off” approach when it comes to investing his/her funds – with the first option, he/she has a say on how the funds are invested, depending on his/her risk appetite, while with the second option, he/she leaves the management of said funds to the expert hands of the investment advisors who handle them based on the “lifestyle” option selected by the employee, again depending on risk (low, medium and high). By being “hands on”, employees are more involved with their money, while by being “hands off” they delegate this involvement to someone else, thus saving up on time, on top of doing so on money!

Opting for an EOPP as an organization has many benefits for the latter’s workforce, but what are the advantages for the organization itself? Let’s outline the most important ones:

  • Attract and retain talent – ambitious professionals that are in for the long-run seek companies that offer long-term benefits, such as a Pension Plan, and current employees are more motivated in their employment as they feel and appreciate the savings being amassed with each passing month that they are with the organization.
  • Tax-deductibility – the contributions made by the organization are deductible from the latter’s gross revenue, up to an amount equal to 10% of the gross salary of each employee.
  • Flexibility in devising and operating the EOPP – as the Plan is highly-adaptable from the get-go, the organization can choose how best to design it by gauging a plethora of parameters so as to meet the desired goals.
  • Prestige – having a Pension Plan in place sends all the right signals to the market; that you care about your employees by looking out for their future and the financial security embedded in it.

When all is said and done, having a Pension Plan in place is a prerequisite to maintaining a highly-motivated and committed workforce; that extra benefit that will persuade your employees to go the extra mile for the organization. And, extra, pays off in the end. It always does.

Be the organization with that certain extra, not the one without it.

To see how the implementation of EuroLife’s Occupational Pension Plan may benefit your organization and your employees you can contact Mr. Stathis Stasis, Business Insurance Advisor, at 99-531119 for a comprehensive consultation.

Take care of your child

Insurances for
your child's future

Curabitur iaculis ante a nibh vulputate sollicitudin.

Company informations

Insurance Agency
Stathis Stassi

Andrea Hadjitheory

Contact details

E-mail address:

(+357) 22000000

Available 8:00am - 4:00pm


Top Financial Priorities in the next 5 years

Company informations

Certified Financial & Insurance Advisor
Stathis P. Stasis

Evrou 4 , 2003 , Strovolos

Contact details

E-mail address:

(+357) 99531119

Available 8:00 - 20:00