What does insignificance mean, and what do employers need to keep in mind?

The term «insignificant» is used when the departure payment is less than the annual contributions that an employee has paid into the occupational retirement provision. Insignificant employment usually occurs when employees have only been insured with a pension fund for a very short period of time.

If the case in question is «insignificant,» you as the employer do not have to do anything. We will contact the insured person and pay out the departure payment in cash if requested. Alternatively, the departure payment can be transferred to a vested benefits account or the pension fund of the new employer.