OREANDA-NEWS. A new retirement programme "Defined contribution pension plan"  is introduced by MMC Norilsk Nickel.

MMC Norilsk Nickel offers its employees a broader opportunity in non-governmental retirement assurance by launching a defined contribution pension plan (DCPP) at the key production operations of the Company.

In addition to their work pension, DCPP members will receive a non-state pension, which will be formed on the basis of the employees’ contributions matched by the Company, supplemented by income from investments accrued in the Non-Governmental Pension Fund Norilsk Nickel.

It was established that the amount of an employee’s individual contributions today may not be lower than 1% and higher than 3% of his/her monthly salary, and the Company’s contribution will be of the same percentage. 

The plan offers another benefit for women born in 1962 and earlier and men born in 1957 and earlier: in the period of 2007-2008 they may invest into the fund up to 7% of their monthly salary on a parity basis with the Company, and enjoy higher income from investments.

Participation in the pension plan is open for all full-time employees of MMC Norilsk Nickel.

One of the objectives set out by the Company management is to widen the employees’ participation in non-governmental pension plans. There are seven corporate social programs currently in place, and just in the first half of 2007 about 60 thousand employees from different structural units of Norilsk Nickel Group joined the Company’s pension program.