What you need to know
Plan for your retirement now, so you can enjoy your life later. Build financial security with the PayPal Pension Plan — your future source of retirement income. The Plan, provided by Allianz, Compañía de Seguros y Reaseguros, S.A., allows you and PayPal to contribute to a pension fund for your retirement.
What is the pension plan?
A pension plan allows money to be put aside now for your retirement later. It’s a long-term investment option that grows as you continue with PayPal, so you have a pension fund — or certain amount of money — available to you when you retire. You can vary the amount you contribute into it over time.
How the plan works
You’re eligible to join the pension plan starting on day one of your employment.
The plan offers a tiered contribution structure, allowing monthly contributions from both you and the company.
The 2020 offset limit is 43.203,3 €.
| Employee contribution | PayPal contribution | |
|---|---|---|
| Portion of salary below the offset | 0% | 2% |
| Portion of salary above the offset | 3% | 9% |
While you cannot change your pension contributions, since they are based on the above formula, you may choose to make additional contributions up to certain plan limits. The combined employer/employee annual contribution limit is 8.000 €.
These limits operate in conjunction with other contributions made to individual or group saving schemes: individual pension plans, planes de previsión asegurados (PPA) (insured individual pension schemes), employment pension plans, occupational mutual welfares, etc. You may make any voluntary pension plan contributions directly to the insurance company within the legal limits. For more information, you can contact the broker, Mercer, via email.
Joining the plan
You may join the plan at any time. Simply fill out the Retirement Enrolment Form, available on HR Hub (this page is only accessible within the PayPal firewall), and submit it to HR Hub via a webform. HR Hub will process your application and confirm back to you.