The demand for ways of increasing employees' financial rewards while optimising cost and taxes is growing these days. Contributions to personal pension schemes are one of the options. What's more, an attractive offer has been prepared for new clients of Penzijní fond Komerční banky, the fourth largest pension fund on the Czech market.

When signing a pension scheme agreement at a Komerční banka branch or via its call centre, every newly insured employee will win an attractive bonus of CZK 500. The offer applies to agreements with a contribution of at least CZK 300 per month, executed by 30 April 2009.

"Every year, the average employer contribution to personal pension schemes is increasing as well. For example, Penzijní fond Komerční banky has recorded a growth of as much as 44% in the amount of the average employer contribution since 2003. At the same time, the number of scheme members for whom the employer contributes to their personal pension scheme is growing too. Specifically at PF KB, this growth amounts to 95% over the last five years, well above the average for the personal pension market in the Czech Republic," says Pavel Jirák, Chairman of the Board of Directors and Executive Director, Penzijní fond Komerční banky.

The contribution to personal pension schemes is popular among employers not only because it is tax deductible but also because it allows them to save up to 34% in mandatory social security and health insurance payments. Contributing to employees' personal pension schemes is more advantageous than increasing their salary by the same amount for the employer. The reason is that the employer has to pay social security and health insurance on the raised pay while there is no such obligation in respect of up to CZK 24,000/year contributions to personal pension schemes (this limit also includes possible contributions to life assurance). Within the same limit, the contribution is exempt from social security, health insurance and income tax on the part of the employee.

According to the latest surveys, contributions to personal pension schemes are one of the most frequent and sought-after benefits alongside meal vouchers and company mobile phones. Currently almost one million employees in the Czech Republic receive contributions to their pension schemes from their employers and the number continues to grow. In recent years, interest in contributing to employees' pension schemes is also growing in small businesses with just a few employees.

Komerční banka is one of the best run universal banks in Central Europe. It provides comprehensive services to clients in the areas of retail, corporate, and investment banking. The Komerční banka Group's 8,804 employees serve 1,629,000 clients, who can use an extensive network of 394 points of sale throughout the country. Komerční banka currently operates 673 ATMs and more than 951,000 of its clients use one of direct banking channels.

Komerční banka is part of the Société Générale Group, one of the largest banking groups in the euro zone (in terms of market capitalisation), whose 163,000 employees serve more than 30 million individual clients worldwide.