Mapfre launches a platform for SMEs to offer savings insurance to their employees
Mapfre has launched a platform that allows SMEs to offer their employees savings insurance in the form of flexible remunerationas reported in a statement.
The system is voluntary, and each employee decides whether to join it or not and how much of their gross salary they want to allocate to taking out insurance. This amount is deducted directly from the employee’s payroll.and once that amount has been deducted, the company applies the corresponding tax withholdings. The part of the salary allocated to savings does not add to the tax base and, therefore, is not taxed on it, the insurer has explained.
Mapfre has given as an example a person with a salary of 36,000 gross per year who decides to save 300 euros per month with this system. This decision will mean a tax saving of 1,000 euros per year.
The platform includes a tax savings simulator which allows each worker to choose what amount to allocate to their retirement savings, through the different products offered: savings insurance with guaranteed interest or without guaranteed interest. It is free for companies as long as there is at least one employee.
