MultiPlan and MultiPlan+: the flexible group insurance policy for companies with 26 or more employees

MultiPlan en MultiPlan+

With MultiPlan, you can provide a flexible group insurance policy. Will you allow your employees to make additional pension savings, or will you opt for thorough risk cover? As an employer, you can choose between Branche 21 / Tak 21 and Branche 23 / Tak 231 solutions. Our experts will search for you to find the best possible return. The administration is straightforward, thanks to the My Workplace online management platform.

Is MultiPlan right for your company?

  • Does your company have 26 or more employees, and do you want to allow them to choose group insurance policy based on their needs at each stage of their lives?
  • Would you like to achieve a high potential return through Branche 23 / Tak 231?
  • Are you looking for convenient administration?

Then make sure you learn more about what Multiplan has to offer you.

Benefits

Choose a Branche 23 / Tak 231 solution

As an employer, you are required by the government to deliver a minimum guaranteed return3. It is often not possible to achieve this percentage with Branche 21 / Tak 21 products nowadays, and you will then be required to make up the difference. As such, it makes sense to opt for a Branche 23 / Tak 23 solution1.

If you do, there is of course no guaranteed return and good years may alternate with less good ones. However, the long term of the group insurance policy means that risks are evened out, and there is a higher chance that you will be able to meet your financial obligations in full so that your employees can benefit from strong coverage and a healthy boost to their pension pots.

It's also worth thinking about convenience. As an employer, you can choose between 36 different Branche 23 / Tak 231 funds that range from the defensive to the dynamic, including 4 profile funds that are managed internally by NN. That means it's easy to decide for yourself how much risk you want to take. Without having to take on active management yourself. You can leave all that in the safe hands of our experts.

Optional guarantees in case of death and incapacity for work

MultiPlan provides two basic guarantees: a supplementary pension and death cover. You can also add the following optional guarantees to your group insurance policy.

  • In the event of death: an extra amount for the next of kin in the event of death due to an accident.
  • In the event of incapacity for work:
    • Payment of premiums by NN, including maintenance of guarantees and pension savings
    • An extra amount in the event of complete and permanent incapacity for work due to an accident
    • An annuity payment in the event of incapacity for work due to sickness or accident, whether personal or professional.

Burnout and other psychological conditions are also covered in the supplementary Incapacity For Work cover. We give you the choice between two innovative forms of cover for the same price.

A helping hand when buying real estate

Is your employee planning to acquire a property? With this group insurance policy, you can give them the chance to finance their plans at a better rate, by means of an advance payment on their contract, which comes with some extremely attractive terms. You won't have to deal with any paperwork either, as NN will arrange everything directly with your employee.
As an employer, you obviously have to make sure that your employee effectively uses the advance for a real estate project in the European Economic Area. Otherwise the benefit of the tax deduction disappears for you.

Adjust MultiPlan annually

Each year, you have the option as an employer to adjust the type and amount of the guarantee. At the same time, employees can as well make changes based on their changing personal circumstances. Do they need to make more room for pension savings? Or do they need additional coverage? It's all possible.

Convenient administration

Thanks to the online My Workplace application, you as employer have access to everything you need to easily and securely manage your group insurance policy – wherever and whenever you want.

Premiums and taxation

Premiums

The average life/death coverage premium for each insured person must be at least EUR 1,000.
As an employer, your premiums are tax deductible provided that you adhere to the 80% rule.2

Taxes and contributions on premiums

  • Subscription tax on pension, death, accident and incapacity for work: 4.4%
  • NSSO contributions on pension and death: 8.86% (on employer contributions)
  • Wijninckx contribution, if applicable4

Management fees

  • Entry fees for life and death premiums: based on the premium volume and the number of people insured
  • for the life reserve (Branche 21 / Tak 21): 0%
  • for the life reserve (Branche 23 / Tak 23): up to 0.96% annually, depending on the fund selected
  • for the death reserve: 0.08%

Contributions and tax on payout

  • RIZIV/INAMI contribution of 3.55% of the total amount transferred (excluding incapacity for work)
  • Solidarity contribution of 0% to 2% of the total amount paid (excluding incapacity for work)
  • Profit share is exempt
  • Tax on capital/interest: depending on various factors5

Set up a Cafetaria Plan with MultiPlan+

Would you like to offer your employees greater freedom and allow them to make à-la-carte decisions? Then you should definitely choose MultiPlan+, the Cafetaria Plan version of MultiPlan. Is there a need for greater death coverage or for additional insurance against incapacity for work? Your employees choose the formula that best matches their current age and circumstances, within the range of options you define.

Are you interested? A financial adviser will help you get started

As an employer, if you have any questions then you can get in touch with one of our independent brokers.
Or send an email to EBsolutions@nn.be. An NN Employee Benefits Consultant will then quickly get in touch to offer you personal advice and assistance.

Help with new plans and improving existing plans

Your company can rely on personal assistance as you introduce your plan.
Are you already a MultiPlan user? Then we will provide a non-binding in-depth analysis.

Find out how we can help you launch your pension plans and carry out interim evaluations

Alto Bonus: additional pension for your top employees

With Alto Bonus, you can link your employees' pension premiums to their performance.

My Workplace: make managing your policy a great experience

With My Workplace, you can quickly and easily make changes to your insurance policies.

WelcomePlan: a safe haven for pension reserves from former employers

WelcomePlan is a reception structure designed to hold group insurance policies from former employers.

Footnotes

  1. Branche 23 / Tak 23: In Branche 23 / Tak 23 investments, neither the capital nor the return are guaranteed. Employers are required by law to guarantee a minimum return on employer and employee contributions in order to build a supplementary pension. The return provided by a Branche 23 / Tak 23 investment fund depends on the changes to the unit value of the fund. There is no entitlement to profit sharing.
  2. The 80% rule states that legal and supplementary pensions, expressed as annual pension payments, may not be higher than 80% of the final normal annual gross salary. This does not take individually agreed contracts into account.
  3. Under the Belgian Supplementary Pensions Act (Wet op de Aanvullende Pensioenen, or WAP), the minimum guaranteed return is the minimum return that the employer must guarantee on employer and employee contributions made under the supplementary pension scheme. Before 1 January 2016, this guarantee was 3.25% on employer contributions and 3.75% on employee contributions. On 1 January 2016, the minimum guarantee was reduced to 1.75% for both employer and employee contributions.
  4. Wijninckx contribution: A special NSSO contribution of 3% that employers are required to pay on supplementary pension premiums or contributions that exceed the threshold of EUR 30,000 per year (excluding tax and subject to indexation).
  5. Supplementary pension settlement: Apart from some legal exceptions, the supplementary pension payment must be paid out at the time when the employee actually retires.
    If an employee retires after the statutory retirement age, the employee may choose when the payment of benefits and reserve should occur – either when they reach the statutory retirement age, or on their actual retirement date.