Saving fund

Provident fund/ Saving fund Raiffeisen Valida (Mitarbeitervorsorgekassa):

From the second month of the employment relationship, the employer must pay 1.53% of the gross salary (including holiday and Christmas bonus) per month to the pension fund company with the social security contribution. The health insurance company checks this contribution and forwards it to the check-in bank.

After 3 payment years, you have if wanted a claim for payment (tax reduced, just 6%) in case of:

  • employer termination
  • involuntary release
  • entitled resignation (pension)
  • termination by mutual agreement
  • timing
  • maternity


If your gross salary is EUR 60.000 and if you are terminated after minimum 3 working years at Specific-Group by mutual agreement, you will get: approximately EUR 2.000,00 from the health insurance company for the last 3 years.


EUR 918,00 (1,53%) x 3 years = 2.754
EUR 2.754 – 6% tax = 2.588,76

The more working years you have the more money you will get back.*

* All given numbers are estimated based on 2018 rates and a gross salary of € 60,000. Real amounts are calculated for each individual based upon the rates of the moment and that individual’s official salary.