Volkswagen AG tops up the benefits provided by social insurance institutions, such as sick pay, and supports dependents when an employee dies. All Volkswagen AG employees are also insured by a group accident insurance policy against accidents resulting in death or disability. Volkswagen AG also grants short-term loans in exceptional cases of economic hardship.
Employees in the Group companies in Germany and abroad enjoy additional benefits. Depending on the location, these include transportation and subsistence allowances, affordable housing, monthly childcare allowances as well as subsidies towards selected leisure activities. Additional preventive healthcare services or supplementary pension insurances round off this offering on a location-specific basis.
Volkswagen AG and its brand companies and subsidiaries operate an occupational pension system, making an important contribution to their employees’ retirement income. The direct pension commitment at Volkswagen AG comprises the basic pension and the retirement benefits under contributory pension schemes I and II. While the basic pension and contributory pension scheme I are funded by the employer, contributory pension scheme II offers employees the opportunity to provide for their own retirement income through deferred compensation. Direct insurance is another opportunity for employees to provide for their own retirement income through deferred compensation.
Volkswagen AG’s Time Asset is an instrument that gives staff the opportunity to retire earlier. Since 1998, employees have been able to make contributions from their gross salary and time credits. The accumulated Time Asset credits can be used for paid early retirement.