Pension - for those who are employers
Does the company have a pension management group?
Companies with 15 employees or more are required to have a steering group under the Defined Contribution Pensions Act, Section 2-6.
Who?
The steering group shall consist of a minimum of three people. At least one must be selected by and among the employees, while two are appointed by the company.
What should the steering group do?
The steering group does not have a decision-making authority, but should comment on matters relating to the management and practice of the pension agreement.
If the company considers changes in its pension scheme, the steering group must be informed in advance of the decision. Other relevant topics may be changes to framework conditions, returns or other changes in the company that will have an impact on the pension agreement.
How often?
It is up to the steering group to determine the number of meetings. But it’s a good idea to hold regular meetings on matters relevant to your pension scheme. Our recommendation is at least one meeting a year.