Pensions

These days, many people regard retirement as a relatively active phase in their life. They devote themselves more than ever to their hobbies, leisure activities or travel. We have a range of ways to help our employees make additional contributions to supplement their retirement incomes while they are still working and to make further provision for their futures. We want their commitment to Bayer to pay off in old age, too.

BayerPLUS

Bayer offers its employees a stable income and financial security. In Germany, our BayerPLUS corporate pension plan provides a basic pension, and a Riester plan can also be taken out. For employees whose income is above the ceiling for statutory pension contributions, Bayer finances a supplementary pension plan that can be significantly topped up by the company if the employee opts to take part in the voluntary deferred compensation program..

Supplementary Pension Plans for Managers

Our managers can allocate a portion of their salary to additional pension plan contributions. With deferred compensation, they can either increase their current pension income after retirement or choose to receive a lump sum. As this contribution is taken from their gross income and is converted into pension benefits by Bayer, employees will not pay taxes on it until the pension is drawn. This is advantageous, as a lower tax rate applies to many pensioners.

Supplementary Pensions for Non-Managerial Employees

Employees covered by collective wage agreements and those with apprenticeship contracts can convert a basic amount of deferred compensation into pension plan contributions, as well as parts of their income (vacation pay, annual supplementary payment). In addition, Bayer will supplement this with an attractive, contractually-agreed contribution. This allows employees to increase their pension income, or receive a lump sum, as well as reducing their tax burden, because the additional contributions will be taken from their gross salaries. Taxes are only paid on the benefits when the pension is drawn.