Around the world, the portfolio of benefits enhancing your financial security differs from country to country, reflecting local priorities and possibilities. The objective, however, is always the same: We want to create an environment where everyone can best perform, innovate and develop.
The company pension plan in Germany is known as BayerPLUS.
Basic pension PLUS additional pension: your pension grows in two ways. All Bayer employees are entitled to the basic pension. The BayerPLUS Supplementary Pension is available to all Bayer employees who have a contribution-based income above the SSCC level. As part of BayerPLUS there is also the possibility of additional Riester subsidy.
Deferred Compensation enables managerial employees to improve their incomes upon retirement or in the event of disability. It involves converting a defined amount of salary into an Supplementary Pension entitlement. Further more employees will be eligible to convert their personal gross STI or only a partial amount of it (gross) into an additional supply component in the Deferred Compensation model.
Non-managerial employees can convert a defined amount of salary (vacation pay, November bonus under the collective agreement) to create an Supplementary Pension entitlement to which the employer also contributes.
Alongside the sadness caused by bereavement, surviving relatives can face considerable costs. Death benefit insurance with the Bayer Beistandskasse provides initial financial assistance to cover the immediate costs.
Bayer Beistandskasse is a mutual insurer so its assets and income can only be used for its defined purpose: insuring members against the financial costs of death.
For further information and forms, visit the Bayer Beistandskasse website.
Employees can credit various time and compensation components to a BayZeit long-term account to save up for a prolonged period of leave for training during their working life or to finance a period of paid leave immediately before they retire.
DEGEF and LEA are investment funds for employees and retirees of Bayer Group companies in Germany. Also eligible are employees of former Bayer companies where their management has so decided and Bayer has named the respective employees as eligible.
BayShare is a special employee stock program, offered as decided by the company, allowing employees to purchase Bayer shares at a discount.
Private insurance (e.g. car insurance, personal liability insurance) is available to employees on favorable terms. For information, please contact the Pallas insurance company (Pallas Versicherung AG), which is wholly owned by Bayer. Attractive offer for new employees: you can take out occupational disability insurance and/or supplementary private health insurance within six months of joining Bayer without the medical check-up that is normally required.
Managerial employees on contract levels 1 to 4.1 are eligible to take part in the company car leasing system after their probationary period. The leased vehicles may also be used for private purposes.
Bayer makes a company car available for both work and private use to managers with a contract level 4.1 and above.
Would you like to know more about benefits at Bayer? Starting from your first day at Bayer you can access our Intranet portal BayerNet. On this portal you will find detailed information on retirement provisions the section “People” under “My Life”. Information regarding car leasing can be found in the scetion “People” under “My Pay”.
