Vincon Vrancea, first employer to offer private pensions

Vincon Vrancea, a producer of wine and wine distillates, is the first company in Romania to provide its own employees with a voluntary private pension (pillar III) in the form of a salary benefits package. As a result, 132 employees of Vincon Vrancea received a voluntary private pension in the account of which the employer transfers 200 euros per annum. By law, any employer can provide its employees with a voluntary pension. The option of signing-up for a voluntary pension rests with the employee, who can choose to accept or reject the employer’s offer. “Vincon decided to offer voluntary pensions to all the employees who had worked at the company for more than 15 years,” Iuliana Tudose, a HR manager with the company, told ZF. According to Tudose, contracts for voluntary pensions were signed with Allianz-Tiriac Pensii Private, in the AZT Moderato fund. What prompted the company to offer such incentives to its employees? “Vincon very much wants to develop and become the leader of the Romanian wine market and this is why we need our best specialists, people with a long history at the company, to remain loyal to us. This method of securing our specialists’ is just the beginning,” specified Tudose. At present, Vincon has around 1,000 employees, of whom almost 20% will benefit from these incentives.