Financial benefits at Vetter

Ensuring financial security is an important promise to our employees. Vetter is a pioneer in this area, with a robust package of supplementary company health insurance and our own pension models, which include a company pension scheme and working time accounts. It is important to us to show our appreciation for our employees, and it’s also part of our philosophy to be socially responsible as a company. In the following interview, Lead Manager Jochen Simmerlein-Cizl explains how employees benefit from the numerous additional services.

JOCHEN SIMMERLEIN-CIZL

has been with Vetter for almost six years and is head of the Financial Benefits department, which is responsible for administering and providing supplementary employee benefits. His personal mission: delivering the best to all employees!

Mr. Simmerlein-Cizl, you’re an expert in financial benefits at Vetter and have introduced, among other things, the supplementary corporate health insurance (bKV). Who stands to benefit from it?

The bKV benefits all Vetter employees and is a sensible addition to your own health insurance. Best of all: it's free! Anyone can sign up starting the seventh month of employment – it's easy to do through the online platform or the app.

What exactly does the Vetter-bKV subsidize?

Our supplementary health insurance is a two-part benefit plan. Part one is the so-called health budget, which relieves our employees of the burden of co-payments. Those who make use of additional services such as a ceramic crown at the dentist, eyeglasses, naturopathy, or osteopathy have a health budget of €900 per year at their disposal. This also includes co-payments for prescribed medications. Just submit the payment receipts online – and the amount will be reimbursed. With this health budget, employees receive better care than they would through public health insurance alone. Part two is the preventive care package: Every two years, employees can have medical check-ups and examinations worth a total of €1,900. This includes advanced cancer screening, cardiovascular care, prenatal care, sports physicals and many other health screenings.

Does Vetter also provide medical advice?

Yes, we’ve set up prevention centers and partnered with doctor’s offices. We also offer a specialist referral services, video medical consultations, hotlines, and support for family caregivers.

Jochen Simmerlein-Cizl, Lead Manager Financial Benefits, Sophie Dalea und Anika Haller, Managerinnen Financial Benefits (v. l. n. r.)

Vetter also offers financial benefits for retirement, right? How does the company pension plan work?

We offer a unique combination of an early retirement and a pension plan. It works like this: Employees can accumulate unused salary components, overtime and vacation time through working time accounts. They can then use these savings to retire earlier or have them paid out. This is where the company pension plan comes in – the supplemental retirements plan that is paid out upon retirement. What’s unique is that Vetter pays very high employer contributions of well over 100 percent. This means that what I pay in, I get back from Vetter on top of what I paid in, and even more.

What’s unusual about the Vetter pension plan?

It’s in-house! Because we don’t use external service providers like banks or insurance companies, we are cost-neutral and flexible. What's more, all employees receive information tailored to their personal circumstances. This has been very well received: Almost 75 percent of our employees already participate in the company pension plan!

Do the offers only apply to the German locations?

No, we also offer comprehensive financial benefits in Rankweil in Austria and in the US. Of course, due to varying legal requirements, not all benefits are identical. But we are always looking for ways to provide the best possible support for our employees at all our sites.