What benefits are covered by pension funds?
Pension funds cover benefits in the event of disability or death resulting from illness. Together with OASI, occupational pension schemes aim to ensure employees can maintain their usual standard of living in retirement.
Occupational pension schemes contain an obligatory and a non-obligatory (voluntary) component. The obligatory part insures annual salaries up to a certain maximum amount, while the remaining part of the salary in excess of this amount is considered to be non-obligatory.